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Tatasteel

TATA STEEL SHOWING A BREAK OUT SIGN!Tata steel stock price has fallen in recent times. However, the price is showing bullish signs now. The volumes are increasing and the price is nearing a breakout. The overall metal index showed a bullish sign. The XABCD bat pattern sets a supply zone/ PRZ which has to be taken out to make a new all-time high. Start booking the profits from the supply zone and trail until the all-time high is broken. The short-covering moves can take the price to the ultimate target set by the XABCD bearish crab pattern. The breakout, stop-loss, and target levels are mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:TATASTEELLong
by Sanjan91
5
Simple Trade Setup | TATASTEEL | 21-10-2021 [ INTRADAY]NSE:TATASTEEL Observations: Let's first take look at NIFTYMETAL. --> On daily time frame, if we apply FIB retracement only on recent uptrend move then we can see that today's candle took support from 61.80% level range. Please refer below chart : 1day Time Frame. --> On Daily time frame again, if we apply FIB Reracement on a bit longer uptrend move then we can see that today's candle is still above 38.20% level range. And seems like it tried to test the previous breakout level of 5900/5905. And took support from that range. As far as metal index is above this 5900 level range it has still possibilities to continue bullish move. Please refer below chart : 1day Time Frame. ------------------------------------------- Now let's take a look at TATASTEEL. 1) On 1 day time frame, it managed to close above 10DMA. 10DMA is placed at 1336.31. which will be immediate support at this moment. Also if we apply FIB retracement for recent uptrend then we can see that today's candle took support from 61.80% level of FIB level. If it sustain above it and breakout 1363 level range then it will be bullish again. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for Date 21-10-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:TATASTEEL
by Trading_hawk
1
Simple Trade Setup | TATASTEEL | 18-10-2021 [INTRADAY]NSE:TATASTEEL Observations: 1) On 1 day time frame, we can see that it faces resistance from 50DMA zone. And closed below 50DMA. 50DMA is placed at 1381.56 level. Sustainable breakout of 50DMA on daily time frame will continue the uptrend. Please refer below chart : 1day Time Frame. 2) On 1 day time frame, if we apply FIB RETRACEMENT then we can see that it trade between 50% and 61.80% range of FIB. Please refer below chart : 1day Time Frame. 3) On 15min time frame, we can see that it is trading in uptrend parallel channel. Upper trendline will work as resistance, middle trendline will work as support & resistance w.r.t price action and bottom trendline will work as support. Please refer below chart : 15 min Time Frame. ------------------------------------- Trade Setup for Date 18-10-2021: Most of the levels will remains the same as per previous setup. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:TATASTEEL
by Trading_hawk
6