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TATA STEEL (BUY) - LONG UPSIDE TARGET - 135 -140 LEVELSTata Steel produced an upside breakthrough at the level of 118 and displays a perfect bullish falling wedge pattern. Bullish Falling Wedge patterns often suggest that the stock is bullish and that it has the ability to hit the target of 135 to 140 in the next weeks. If it breaks the 135-140 levels ,then the stock might go for a small retracement or correction and will give a rebound back towards the new targets of 170 levels.
NSE:TATASTEELLong
by ActInvest_
TATA STEEL : PENNANT PATTERN BREAK OUTTATA STEEL , one to the most popular stock of Indian Stock Market , which was under the radar of every single investor for this break out. The Stock has shown break out on BULLISH PENNANT CHART FORMATION after a gap of 2 years . Both MACD and RSI are in the favor of the break out and hence the probability of FALSE BREAK OUT is minimum. However , we still need to draw a line of control on this pattern which is at Rs. 114.00 . The long term targets are Rs. 148.00 and Rs. 225.00 Remember this is an education post and meant only to understand the behaviors of the charts. It does not carry any tip to buy or sell for the stock. Trade at your own responsibility . Good Luck !!!
NSE:TATASTEELLong
by chakraveer1104