Tata Steel Long Long

TATA STEEL LTDNSE

Description

⋅ Jan 20, 2022 6:47 AM

Long on Tata Steel. Reason for trade:

1. 200dma ( Good location)
2. Comtinous HL structure and first time HH structure formation.
3. Good breakout volume.

Note: Trade only for education. Don't take it due to my view, I am not a SEBI registered analyst or service provider.

Trade closed: stop reached

⋅ Jan 24, 2022 11:16 AM

Comments

anish_nanda

⋅ Jan 20, 2022 2:38 PM

Tata Steel will touch 1500 by 31st March. 2nd rate cut by China in a month is very positive trigger for metal stocks. Tata Steel can cross its lifetime high of 1534 in next few months.

Partha_Dolui

⋅ Jan 20, 2022 3:20 PM

@anish_nanda, may be. I trade totally on technical analysis. So only have basic knowledge about the rate cut. Yes I do know that GDP data of China is not good and if inflation in control they can go for a rate cut. But I can be wrong. So going with a SL

anish_nanda

⋅ Jan 20, 2022 7:06 PM

@Partha_Dolui, Technically too metal stocks looking at for a rally. Nifty Metal Index will touch new highs in next few months!