This is the analysis of TATAMETALI in the Daily Time Frame. Watch carefully. The chart explains itself.
If it breaks and sustains above the upcoming resistance level, it is good for the stock.
There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or...
I am not holding
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
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Self-explained chart: All well explained in video with SL, TARGET and How you can wait for a better trade-in it
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time...
Unlock happening quickly, demand for construction related material increases. Metal stocks are in momentum. This is a solid opportunity to buy.
Technical indicators are bullish
Watch out for the SL
Chart study, not a call
NOTE : I have taken Position in this stock at first BO
#TATAMETALI
TATAMETALI
CMP: 1055.70
Target: 1300++
May Hold if longer time frame planned.
Stoploss: 897 (on close price basis)
Time Frame: Less than 3 months.
Factors:
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Higher Highs & Higher Lows.
Breakout above RESISTANCE levels
Trading at SUPPORT levels
Fundamental are strong.
High...
After a retracement from sharp bull run, stock is taking support at 38.2% Fib Level and seems ready to resume trend as its already broken channel.
One can go long at CMP 642 with SL of today's Low 620 for a Target of retesting the top 760.
TATAMETALI is entering a possible reversal zone.
The green trendlines are from the DAILY timeframe forming a Rising Wedge .
Look out for a breakout or reversal, after it enters the Zone.
