Break Out Trade in Tata Steel Ltd.
Date: 9-Feb-2022
Rating: Buy Above 1245 on closing basis.
LTP: Rs. 1219.60 on 8-Feb.
Target: Rs. 1375-->1480-->1535
SL: Follow the trailing SL indicated by the moving averages on closing price basis.
Tata Steel Ltd. is about to break out from the current primary down trend as well as its earlier resistance level of 1245. Volume has increase since last few days to support the same. EMA, MACD and RSI are giving very bullish signals. 7D EMA has already crossed 13D and 26D EMA. RSI is in buy zone and has given a positive divergence. MCAD has already crossed over to buy zone.
Disclaimer: Investing in stock market is risky. One should do a self analysis and validation before investing in stock market.
Rating: Buy Above 1245 on closing basis.
LTP: Rs. 1219.60 on 8-Feb.
Target: Rs. 1375-->1480-->1535
SL: Follow the trailing SL indicated by the moving averages on closing price basis.
Tata Steel Ltd. is about to break out from the current primary down trend as well as its earlier resistance level of 1245. Volume has increase since last few days to support the same. EMA, MACD and RSI are giving very bullish signals. 7D EMA has already crossed 13D and 26D EMA. RSI is in buy zone and has given a positive divergence. MCAD has already crossed over to buy zone. Disclaimer: Investing in stock market is risky. One should do a self analysis and validation before investing in stock market.
Note
10-Feb: Tata Steel has given break out today, closed and sustained above 1245. Right time to enter tomorrow. EMA is giving bullish signal for positional as well as long term entry.Note
Date: 22-Mar-2022LTP: 1314. 6% up from suggested level. Hope to see 1st target soon.
Note
Date: 4-Apr-2022LTP: 1341.9. 7.78% up from suggested level. Close to the 1st target.
Note
Date: 6-Apr-2022LTP: 1370.75 (Day high: 1386.70).
1st target reached. Up by 10.10% from suggested level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.