TATA STEEL LTDLong
Trade cum Situation Call | TATA STEEL | Triangle Breakout
Trade Call: The stock witnessed a breakout from a symmetric triangle pattern on the 5th push up which indicates that the breakout will sustain.
Entry: 330-340
Target1: 347.05 (Long term 0.382 retracement level)
Stop Loss: 326.45
Situation Call: A breach of the short term 1.272 retracement level (at price 364.4) will further fuel the breakout and we might see a stronger rally towards 410 levels.
Entry: 365-375
Target: 406.85 (Long term 0.618 retracement level)
Entry: 330-340
Target1: 347.05 (Long term 0.382 retracement level)
Stop Loss: 326.45
Situation Call: A breach of the short term 1.272 retracement level (at price 364.4) will further fuel the breakout and we might see a stronger rally towards 410 levels.
Entry: 365-375
Target: 406.85 (Long term 0.618 retracement level)
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