dravya

TATASTEEL - Results + Major Breakout

Long
dravya Updated   
NSE:TATASTEEL   TATA STEEL LTD
TataSteel has given supposedly very good results.

This was displayed in its price action since days (see the chart in related ideas).

It is now fully ready to give a major breakout. which should not only continue for tomorrow but also days ahead.

I have drawn the lines to help you guys trade.

CMP - 473.5

Entry - 475 and above.

Target - Hold it.

( for aggresive traders, I ve drawn the trendline, if it breaks it, book profits there )

SL - Positional/ Short-term - 460
- Intraday - Trendline

Defensive traders can enter whenever it comes near 463.

All of this won't hold good if the market is unhappy with the results and we may see reversal But that's less probable. Let's see tomorrow.
Thanks.
Comment: Intraday plan :
CMP - 478
will enter at 480
With sl of 478
Target - 486
Comment: Couldn't reach 480 afterwards. Not trending at all.
Order cancelled: As of now, though gapped up big but couldn't sustain and didn't meet entry criteria.
Comment: Closing the chart. Faced resistance at weekly levels and hence failed to give a good setup.

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