Tatasteel
Tata Steel Looking BullishAs per my analysis, Tata Steel is looking bullish on hourly chart.
The major support is @ 1069
On hourly chart it is also showing Bullish divergence.
Once can keep this stock on watchlist with a target of @ 1238
PS - This is for educational purpose only. Trade at your own risk. Happy Trading!
#TataSteel
Tata Steel Breaking Out !!📈 Tata Steel 📉
Tata Steel is breaking out of trend line after testing multiple supports at lower levels. Possible targets of 1410 & 1500 will be possible.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Magical Parallel Channel : Dynacons Sys SolutionDSSL BO with huge volume with support/demand zone found on the magical Parallel channel. Stock is finding good support in the zone of 250-260, rest we can plan the trade as levels mentioned on the chart
Case Study 1 - Reliance Industries -
Long Term Magical Parallel Channel : we can clearly see the price has respected the parallel channel in a magical way, 1996-1997 3 point touch parallel channel support HELD in 2015-2016-2017 & Mar 2020 crash too. #relianceind
Case Study 2 - Tata Steel -
Parallel Channel worked magically in the Tata Steel were price went strongly through the ceiling of parallel channel, creating another parallel channel guided to capture the whole rally in #TataSteel
Case Study 3 - Havells -
Initial Parallel channel was drawn from 2003 base and connected to 2009 low, stock found buyer on the same parallel channel in 2020 crash, even late buyers could have mad +234%. #havells
Case Study 4 - Nifty -
Same Parallel Channel can Help to enter the larger trend by using it in the correction phase, examples are
Case Study 1 - #Nifty
Case Study 2 - #Techm(Tech Mahindra)
Conclusion : Parallelchannel is one of the most powerful tool in the TA & it can be very useful in finding trend and riding most of it.
Hope above examples help in your trading decisions in future, if you find the work useful do LIKE, SHARE & COMMENT...
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
TATASTEEL HEADED FOR A BIG BREAKOUT BREAKOUT TO TRADE:
Nifty Metal Sector has gave weekly closing above 61.8% Fib Retracement which means Metal Sector is now officially in Bullish Trend.
Our Long Term Pick is TATA STEEL
REASON :
1. Symmetrical Triangle!
2.Metal Sector Staring at a Breakout!
3. Removal of weak hands done last week.
TARGET : 1500+
SL IS WEEKLY CLOSING BELOW 595
TATA STEEL LONG Potential BO candidate C&H, trendline BOTata steel looks good on daily chart with a potential Break out candidate. It has formed a C&H pattern on daily chart & also breaking the trend line & the previous high trend line. Volume has been good over past few days. The RSI is in 60+ zone so the stock has good momentum with Strength. Keep an eye on the counter, can give some good returns in short term.
Discl; Chart of reduction purpose only, not a reco to buy or sell. Trade as per your own research