Intraday Trade: watch for Inside candle breakoutbuy above 760 in intraday.
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
JSWSTEEL
TATA STEELTata Steel Double Top Pattern the Amazing Moment. if Tata Steel
break out this level and market stand in 1260 upside then we will be got 1300+ level few months
Tata Steel is poised for the next phase of growth even as it continues to stay the course on deleveraging.
Over the next five years, the average India capital expenditure is estimated at Rs 10,000-12,000 Crore per annum and that excludes potential acquisitions. As against a $1 billion annual debt reduction target, the company is likely to reduce gross debt by over $2 billion in FY22.
Koushik Chatterjee, executive director and chief financial officer, Tata Steel, told investors on Tuesday that the company would continue to deleverage and make its balance sheet stronger in order to position for the next phase of growth.
“This year, I can certainly say that it will be much more than our announced policy of $1 billion,” he said during the investor meet.
The investor presentation mentioned that among FY22 deleveraging priorities, over $2 billion gross debt reduction and Prioritising offshore debt pre-payments.
In the June quarter also, the company had made material repayments in the Singapore and European balance-sheets, said Chatterjee.
JSW Steel forming Flag and pole patternThis stock looks good, if it gives a successful breakout with good volume
Levels are already mentioned in chart.
- Once given a successful breakout .. it looks good above 710 for immediate target of 735-40 and 2nd target of 770+ and T3 of 800+
Things to remember
1) Always wait for Confirmation, don't just jump in running candle
2) Condition for breakout is ... it should break the range with big green candle with good volume
3) There is 90% chance after a successful breakout, it should comeback to Re-test the support, which was once resistance
4) Always keep trailing Stop loss.
Note : I am still learning .. let me know if i missed anything
Disclaimer : This is purely for education purpose only