1. Above all moving averages (20/50/200 EMA).
2. Facing resistance around 392-396 rs zone.
3.All time high is close by, however the buying in the last month happened around 370 rs.
4. Wait and watch stock.
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 )
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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...
