TATA STEELClose to ATH
ready to break it
fundamentals and technical supporting
looking to break it out and give about 10-15% in short term..
for education only.
Tatasteel
TATASTEEL (Bearish WW + False breakout)It will fall fast below 730-725 levels. Currently wait and watch if the breakout is real or false. Today's closing very imp.
buy cup and handle pattern based buy
after a long rally
T1 - 750
T2 - 798
T3 - 860
STOP - 670 (for positional)
option traders - 800 ce / 780 ce(march)
disclaimer - trade @ own risk
Tata Steel UpdateI have updated my analysis please check out the latest Tata Steel Support and Resistance
Tata Steel FuturesTata Steel (Future)
You can buy a future and patiently wait for levels as high as 800.
Tata Steel future is in an uptrend in the daily charts. I have been bullish in Tata Steel in a long time but it has slipped since then.
What makes me happy is that the candles have taken a support on 10 EMA at 681 levels and bounced back from there.
Data
650 is a major support with an Open Interest of 1,513,000 in 650 ce with possible short positions of 175,100.
Trying to analyse the upside, 700 pe is the only level with possible short positions of 119,000.
This shows us that once Tata Steel manages to cross 700 there is no resistance till 750 as there are 40,800 possible short positions.
Call writers are trapped at every level which will support prices to rise. The rise may be a very quick one but patience is must as we know how bad the metal index performed on the 12th of Feb.
Is TataSteel Going Towards 600?The stock is forming a pattern and if it follows Double Top then it may test 600 levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Tata Steel FuturesTata Steel Futures
A very strong support at 679 was respected yesterday. The candle in the daily charts give us a bullish signal.
Uptrend is clear and I would like to hope that it will continue with a target of 718+ in short term.
Intraday support can be seen at 690 levels whereas support on closing basis can be seen at 684 levels.
Buy on dips for short term
TATA STEEL - CRUCIAL LEVEL | DailyGo through Monthly chart first Tata Steel gave a failed break out last month. If this month's break out is successful then 800-900 levels can easily be seen in the stock. In case of failed break out - 600 to 550 levels will be achieved in 2-3 sessions only. Keep on radar !!
On daily time frame stock has given Trendline break-out today
TATA STEEL - CRUCIAL LEVEL | MonthlyTata Steel gave a failed break out last month. If this month's break out is successful then 800-900 levels can easily be seen in the stock. In case of failed break out - 600 to 550 levels will be achieved in 2-3 sessions only. Keep on radar !!
Cup and Handle Pattern in TATASTEELCup and handle pattern is formed in TATASTEEL watch for a breakout.
if it breaks the 690-695 resistance zone then T1 would be 720.
*only for educational purpose
