Hello Trader, Here is the full analysis of TATASTEEL:
1) On daily chart we can see the stock is trading at strong resistance.
2) On 15 min chart, It is trading between the short term trend line. One can look for shorting opportunity if it falls below 288.
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Everyone knows the condition of the metal sector i.e. too bad and there are many reasons behind it like the US-China trade war, CORONA crisis, low demand, etc. However, these things will stop or recover from some point and as per the chart study, Tata Steel is indicating this turning point. Let’s see multiple time frame analysis in brief.
Tata Steel Monthly...
The script lost close to 50 percent of its price from the beginning of this year. After falling near to 250 levels prices have been consolidating with an upward bias. If the upper end of the current consolidation range is broken the prices can test 340-360 on the upside. However it remains to be seen whether the prices will be able to close above these levels...
vedl with lot of news flow in the counter , despite having it i see the stock as undervalued upto 78 zones , technically weak below it now and from here can try to give a quick upmove for 130 /144 zone
Sell tatasteel below 270 tgt- 251 222 closing base sl- 285
How to follow our Ideas & earn maximum profit.
1. First & Foremost: This sharing is just my own study & research. Track or trade in it with 100% self-risk & responsibility. If not convenient then strictly avoid.
2. You should always keep the STOP LOSS. In the market only SL will SAVE YOU