TATA STEEL SHORT TERM DOWN AND FOR LONG TERM BUYING OPPORTUNITY WE WILL SEE LITTLE DOWN SIDE IN TATA STEEL DURING NEXT DAYS AS MENTION BELOW
SHORT TATA STEEL @ 507-508 SL 514 (CLOSING BASIS) TGT 497 >> 485
LONG TERM BUYING OPPORTUNITY DURING THIS DOWN FALL TILL 485 (SL AND TGT WILL BE UPDATE AFTER TOUCHING THIS VALUE.......
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Tata Steel 2016 Diary- Short Term looking for 403-405Trading Strategy
Current Position Chart
Looking for target 403-405 once it starts moving above 396 levels- Keeping stops below 386 as corrective patterns are very tricky & can take stop losses in whipsaw movement in upcoming sessions. Any sustained move below 386 can make it fall to prior lows of 377-380.
In the charts below- click the charts & use load bar feature
This is how we moved so far in 2016
TataSteel- My Baby -Looking for 390's above 375
TataSteel- On Monthly Chart
Looking for a bounce from 380-382 zone- Bang On
Kissed the box with bad luck gap & good luck sell
Started from 380 & returned back to 380
Will TATA STEEL hold the trend lineTATA STEEL was looking good till mistry's mytery. Now that all the TATA stocks are dragging and weak markets before US elections and very Crude Oil, markets may not witness any rallies. Using this TATA group may be chosen as scapegoat. 379 is the trend support.below which we can see 350 levels.Bounce from the support zone can be used as a buying opportunity only for short term.
Tata Steel with 1:2 bullish setup*SWING TRADE*
Buy TATAL STEEL
Above 157
Stop Loss: 145
Target 1 (1:1.5) 175
Target 2 (1:2) 181
_Duration 1-2 months_
Trade as per your risk-taking capacity.
The metal sector is showing signs of reversal, having retested the breakout level of 9493. Tata Steel also retested its zone breakout level and saw an increase in volume on the daily candle. An entry above the last day’s high has the potential to achieve a target of 1:2.
TATA STEEL LONGTatat Steel on weekly chart had started H & S pattern from Dec 2021. It has completed Left Shoulder and Head and is on way to complete Right Shoulder. During this process 108 has become important Pivotal line and 3 years it is trading is between 155 to 80 range. Near Right Shoulder range has reduced to 122 to 102 (from 50% to 20%). Today it had completed Red Inverted Triangle within Right shoulder Any break above Inverted triangle will take Tata Steel to 115 (which is neckline) where it will complete H & S pattern. Above neckline Resistance could come at 120 where price meets at uptrend support and resistance line.
Conclusion.
Range could expand from 20% to 50% (102 to 155)
Above 108 H & S completion process is verified and so price could reach 115 Rs. which is neckline. Above Neckline resistance could come at 120 as it is price meeting at uptrend support resistance line. If 120 is broken on upside with volume, then 155 should be on browser.
This is weekly chart and views are taken from dec 2021 onwards i.e., 3years, targets archivable is also for long term more than 1 year. It requires lot of patients to hold for long term. %0 percent profit can be earned in 2yrs time.
TATA STEEL LONG Tatat Steel on weekly chart had started H & S pattern from Dec 2021. It has completed Left Shoulder and Head and is on way to complete Right Shoulder. During this process 108 has become important Pivotal line and 3 years it is trading is between 155 to 80 range. Near Right Shoulder range has reduced to 122 to 102 (from 50% to 20%). Today it had completed Red Inverted Triangle within Right shoulder Any break above Inverted triangle will take Tata Steel to 115 (which is neckline) where it will complete H & S pattern. Above neckline Resistance could come at 120 where price meets at uptrend support and resistance line.
Conclusion.
Range could expand from 20% to 50% (102 to 155)
Above 108 H & S completion process is verified and so price could reach 115 Rs. which is neckline. Above Neckline resistance could come at 120 as it is price meeting at uptrend support resistance line. If 120 is broken on upside with volume, then 155 should be on browser.
This is weekly chart and views are taken from dec 2021 onwards i.e., 3years, targets archivable is also for long term more than 1 year. It requires lot of patients to hold for long term. %0 percent profit can be earned in 2yrs tine.
ALMIGHTY TATA STEELTata steel looks good on weekly chart by the closing basis break falling resistance trend line and closed above on that, some weeks back it breaks 50 days moving average and came down with very steel fall after so many days it managed to give a close above on it's 50 days moving average so the conclusion is this that we can see a sharp rally in this giant in coming sessions.
Cause of long-:
1- Falling resistance trendline breakout.
2- Break 50 days moving average and closed above on that successfully.
Tata steelSteel giant Tata steel is hovering around crucial levels.
A Buying opportunity can be seen around 1230 levels. Or it's gonna be a wide correction in stock till 1050-1070 levels.
Another pattern can be seen price action that is a Symmetrical triangle is in place. Thus breakout above 1370 will also trigger more upside.
Remember we have to follow the markets. Trade in the direction of markets that is "FLOW WITH MARKETS ALL THE TIME" .
Disclaimer: Only for educational purposes.
Happy trading :)
Tata Steel | Double TopDouble Top pattern spotted in Tata Steel . Pattern is confirmed as price has broken below 500; neck level retesting looks to have done already. Pattern suggests a target of 485.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
TATA Steel Short trade setup- MarchEducational purpose only: herein TATA steel has marking Expanding Triangular pattern at wave ((B)) position.
It was a very rare scenario . Only 5% possibility for this type of correction. And same time wave ((B)) Retracement has been completed 50 % of a wave ((A)) with Expanding Triangular.. here Metal index formed FLAT correction.. this on of the main confirmation. Why I am saying this TATA stell main contributor to Metal index.
* Fib proportion 50% of wave A
* Second confirmation Metal index flat correction beginning.
* Clear pattern.
* Quality of the wave formation. Perfectly identical pattern.
* It right time to short trade.
*Support level 920-880.
Now we target to wave ((C)).
Tata SteelCurrently the stock has discounted 14% from all time high levels.
Tata Steel (Daily):
1. Taking support from 38.2 Fibonacci levels
2. Good volumes on Breakout
3. Retesting done
4. Positive crossover of 5,13 Exponential Moving Average NSE:CNXMETAL
5. Reversal from 20 Days EMA
6. CNXMETAL Index also forming Flag and Pole Kinda formation
View Point:
1. Bullish
Addl Points:
1. FII/FPI have decreased holdings from 0.55% to 0.53% in Dec 2021 qtr
2. Mutual Funds have increased holdings from 4.84% to 4.89% in Dec 2021 qtr. NSE:CNXMETAL
Notes:
1. The above analysis is just for educational purpose.
TATA STEEL for swingSCRIPT : TATA STEEL
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Swing trade : SL can of 1040, for the target of 1250/1360/1430/1500++
Reason : Triple bottom, good demand zone 1080 levels (see the previous breakout with good volumes)
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Tata Steel cmp 138.31 by Weekly Chart viewTata Steel cmp 138.31 by Weekly Chart view
- Volumes running close to Avg Traded Quantity
- Positively trending Technical Indicators EMA, MACD, RSI
- Resistance Zone 136 to 139 Price Band may be a probable Support Zone
- Price closure above Resistance Zone for few days would drive up the momentum for a fresh breakout opportunity