Search in ideas for "TATA STEEL"
Short Term Trade Tata SteelOn 30m chart , breakout is visible in tata steel
On the breakout candle, Volume is higher than average
and there is sudden rise in ATR
The resistance trendline broken, is now acting as a support after the breakout
Since this pattern is on 30m chart ,
we consider it a short term trade and keep low tgt of 115.6(green horizontal line)
and SL of 112.25 (white horizontal line)
RR Ratio is 1:1
SPLIT HAS PROVEN BULLISH FOR TATA STEEL WHY BULLISH ?
> 110 Neckline on a weekly chart has been broken with a high strength almost marubozu candle.
> RSI divergence also has been broken as seen in the picture.
> Again at the same time as I am writing this - global market sentiment along with national market is bullish.
> 1 is to 2.5 approx. risk reward ratio is achievable in this .
> Still best entry time starts when the retest from the same level is done .
One extra inf . - The stock split in the ratio of 1:10 has awarded 10 shares in the hands of shareholders for each share they owned. Hence, the value of the Tata Steel stock has gone down by 1/10th after the stock split. - 29 JULY , 2022 - It has proven to have positive impact as well.
Kindly Comment If Anyone Found This Information Helpful Or Anyone Who Takes Position After Reading This Article.
Thankyou.
buy trade in Tata steel for 1:6 risk rewardbuy trade in Tata steel for 1:6 risk reward... since there was a downfall after which price started to rise again from line....this trade is good in terms of high risk and reward...even if we loose in this trade...we will only loose 6th part of what we will gain ..if we gain from this trade
Break Out Trade in Tata Steel Ltd.Date : 9-Feb-2022
Rating: Buy Above 1245 on closing basis.
LTP : Rs. 1219.60 on 8-Feb.
Target: Rs. 1375-->1480-->1535
SL : Follow the trailing SL indicated by the moving averages on closing price basis.
Tata Steel Ltd. is about to break out from the current primary down trend as well as its earlier resistance level of 1245. Volume has increase since last few days to support the same. EMA, MACD and RSI are giving very bullish signals. 7D EMA has already crossed 13D and 26D EMA. RSI is in buy zone and has given a positive divergence. MCAD has already crossed over to buy zone.
Disclaimer: Investing in stock market is risky. One should do a self analysis and validation before investing in stock market.