I had earlier posted an idea on TATASTEEL on 13th June which was closed at cost. TATA STEEL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its highs and possibly make new ones. It has formed a continuation candle at the 20 EMA and is moving towards its all time high with above average volume. A trade can be taken with the following levels in mind.
LONG ABOVE : 1250
STOP LOSS : 1188
TARGET 1 : 1312
TARGET 2 : 1374
Initiate trade only if it maintains above the "long above" level for 15 minutes. I will update the idea as the trade develops.
LONG ABOVE : 1250
STOP LOSS : 1188
TARGET 1 : 1312
TARGET 2 : 1374
Initiate trade only if it maintains above the "long above" level for 15 minutes. I will update the idea as the trade develops.
Trade active:
TATASTEEL should reach target 1 in the next few trading sessions.
Trade closed: target reached:
Target 1 reached at 1312 on 27.07.21.
Trade closed: target reached:
Target 2 reached at 1374 on 29.07.21.
Comment:
Around 10% return in 18 days. :)