This is a simple strategy using the trendline. The price moved up steeply and has not seen a strong correction. The trendline was broken and the price tried moving upwards for a last kiss and was rejected from under the trendline.
This is an intraday idea, which can be moved to a positional play considering the negativity in the market. There is a strong chance...
Lower Highs and Lower Lows since the formation started in Jan 2018.
We had a huge move from Mar this year, wherein we had six months of bullish candles.
At Rs 440, its at an interesting juncture.
Is it bearish as it appears?
or is it some very bullish Chart pattern ?
I would go for a bearish stance.
#TataSteel @ 346 | TGT: 374 | SL 330
- Usually, 'Cup' is always with a 'Handle' but here the story is with another pattern i.e. 'Cup & Triangle'
- Watch for chart story
#Nifty #Nifty50 #banknifty #steel #NiftyBank
Tails are important for this stock to trade.
Suppose to trade tomorrow 285 above, then buy and hold ( Friday )
Tatasteel TimeCycle and Parallel downward channel.
The price is trading at value low which is better to...
it is near major support zone and is defending well and overall is in uptrend so one can buy with stoploss of 399.50 on closing basis and keep a tgt of 425 which is acting as major resistance and you can also see the stochastic and volume for further confirmations and if us& hina trade deal goes through it will rocket
The price levels have not touched the weekly high/low so far. By today, i.e. Friday it is supposed to come down to levels 215 and touch pink line.
If if goes up, and tries to touch the upper pink line, it can cross levels and touch broad Blue line @ 230 as well.