Steel
INTRADAY JSWSTEEL SHORTThis 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 that the market opens gap down and majority of the trade is already over.
Hence, only enter the trade if the price opens flat at yesterday's close level.
The stoploss is a little wide, due to the volatility, but risk can be reduced once the price moves lower in our favor.
The levels are explained on the chart.
TATA STEEL: Rs 440 volts & Falling WedgeLower 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 - A cup & Triangle story#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
JINDAL STEEL TRADE SET UP and personal views I will look to sell the stock on a bounce from current levels in areas of 127 to 131 for 121 /114/110/100 targets
Tatasteel footsteps for you...!Tails are important for this stock to trade.
Suppose to trade tomorrow 285 above, then buy and hold ( Friday )
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Tatasteel TimeCycle and Parallel downward channel.
The price is trading at value low which is better to buy.
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tail is not valid for buy:
SAIL Short term viewRefer chart. Breakout done .Indicators are showing positive signals to move further upside from here. These may helps to reach the target.
Vijayaraghavan
Chennai.
TATA STEEL TAKE SHORT POSITION SET TGT 416 /410 SL 431 CMP 427TATASTEEL OPENING HIGHER NOT MAINTAIN HIGHER LEVEL CONTINUE DOWN TREND ............SHORT TERM SELL
Buy! Tatasteel near major support zoneit 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
JSW ready to touch 215 or 230 levelsThe 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.
JSW Steel | Trade PlanJSW Steel has been trading on inside a rising channel from July 2017 to November 2018. The channel had a breakdown when price broke down below 330 in last week of November 2018. Post the breakdown the stock corrected to 260 before forming a continuation bear flag. The bear flag had a breakdown in May 2019 but stock seems to be trading in a band between 252 to 300.
Though the bear flag suggests a deep target of about 130 levels, a point to consider is the chart used for analysis is weekly charts (longer time frame) and JSW steel is a commodity company where the business is cyclical in nature.
Trade Plan
Long (at support) at 252 with a stop at 245 for a target of 276.
Short Below (support breakdown) 245 with a stop at 255 for a target of 202.
(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)
JSW Steel | Short Term Forecast-> JSWSteel having two moderate resistance, 270 and 278.
-> Once its breaks hopeful for 290 in few weeks.
-> Otherwise chance for drop upto 240 range in next few weeks.
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)
