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Tatasteel - Weekly ChartTata steel weekly chart has a probability of Bearish Bat pattern. Currently stock is trading near its prz zone.
Keep an eye on price action near that zone.
Harmonic Prz zone also coincides with downsloping trendline and .382 Fibonacci ratio level
Near term support is 430
and major support is 490 levels.
Tata Steel: Another breakout attempt. How far it can carry? TATA STEEL: The stock made an breakout attempt on 4th November but didn’t quite make it. The prices retraced into the cloud only to take support at the Span B plus TS line. The RSI is well into the bullish range and MACD is forming a bullish hook pattern. At 440 a strong resistance is placed. An attempt to test 440 levels can be made by the stock. Activity at those levels should be monitored and as further course will be decided at the price action formed at that point.
Tata Coffee is getting ready to fly .Tata coffee has crossed meaningful resistance of Rs.83 . Next logical target looks to Rs.89 in short term
TATA STEEL LONG TERM VIEWTATASTEEL has given a good fall in prices after the breakout. The fall in price is currently halted & is seen consolidating. It has potential of a pullback towards the cradle as its in oversold zone. A throwback upto 410-430 range cannot be ruled out. Thus, traders can buy in the range of 335-347 for short term trading with a protective stop loss below 275. Overall long term outlook is still bearish & thus long term traders can sell again on a pullback for long term targets of 220-200.