TATA STEEL LTDLong
Stock in DEmand Zone: Tata Steel
Updated
TataSteel is trading in the demand zone of 150 levels.
If it takes support around 20 EMA we can expect next levels like 155, 170.
Long term target: 210.
If it takes support around 20 EMA we can expect next levels like 155, 170.
Long term target: 210.
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I suggested TataSteel on Sep 6, when it was trading near the demand zone of 150 levels.
As expected it took a strong support around 20 EMA and gave a breakout toward 155 levels.
However, the breakout did not sustain and a pullback happened, bringing the stock price again to 149 levels.
Again on Sep 19th, it took the support around 149 levels and gave a strong breakout toward 169 levels.
After a short pullback, the stock is trading near 160 levels.
Currently, Tata Steel has given a breakout with decent volume.
If the trend continues, we can expect the bullish trend to continue up to 170 and 183 levels.
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