TataSteel, one of the largest metal company of India, was in a steep downtrend since almost a decade. It hits high of 1048 in October 2007 and then we saw lots of ups and down in the counter. It hit another high of 579.90 in June 2014 and again it went down to touch the bottom of 199.70. Th counter started fresh upward movement in September 2015 after making a double bottom on daily charts. We identified the counter at around 220 and confirmed the upward movement. The immediate buy call was given and the call still continue, rather further strengthened with the strong and affirmative breakout of long term trend line on monthly charts in last month.
The up trend is confirmed and the stock started northward journey to achieve new horizons. We hope for the targets of 600 in six month to 1 year horizon. So, investors are advised to long the stock in cash segment and tighten the belts for a wonderful joy ride...
Even after achieving targets of 600, the counter can be followed for new highs in current upward movement with dynamic SL.
Enjoy trading Trend is Friend...
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Approaching 500 on the opening day of new month...Hit high of 498.75...
Enjoy Trading...Trend is Friend...
Trade active
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Tata Steel again getting momentum. Long term investors hold the seat belt tight and watch it with cool mind...
I agree. 500 in February, 600 by April and 700 in 2017 itself. After the lost decade; next decade belongs to Tata Steel. Bata jaisa joota nahi aur Tata jaisa loha nahi!