Long
Tata Steel BSL Ltd.: An Opportunity for Traders & Investors!
Tata Steel BSL Ltd.: Triangle Breakout
1. Stock has given breakout from descending triangle pattern,
2. Volume receded considerably during consolidation phase & Heavy Volume is observed at breakout,
3. Moving averages indicating initiation of uptrend!
Considering above facts one can buy at CMP (96.85) with price target of 106 (according to measure rules of descending triangle)
Moreover, company’s fundamentals are good & price has been undervalued too!
So an investor with long term view can hold for a target of 315
Lastly, we should not forget stop loss while trading / investing in stock market which is 84 in this case.
Disclaimer:
This idea is presented just for educational purpose only. You will be solely responsible for your own money & decisions you take.
1. Stock has given breakout from descending triangle pattern,
2. Volume receded considerably during consolidation phase & Heavy Volume is observed at breakout,
3. Moving averages indicating initiation of uptrend!
Considering above facts one can buy at CMP (96.85) with price target of 106 (according to measure rules of descending triangle)
Moreover, company’s fundamentals are good & price has been undervalued too!
So an investor with long term view can hold for a target of 315
Lastly, we should not forget stop loss while trading / investing in stock market which is 84 in this case.
Disclaimer:
This idea is presented just for educational purpose only. You will be solely responsible for your own money & decisions you take.
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.