Tatasteel
One Right Trade's Swing Trade Idea #161 : Long on TATASTEELThis is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
TATA STEEL : GET READY TO FALLStock has completed its first wave & is ready for a fall to start its journey for the 2nd wave which can be expected to complete in the zone of 320-300.
Tata Steel - Long Above 370Tata Steel looks like forming an Inverse Head & Shoulders Pattern on 15 mins chart. Neckline breakout above 370 with a stop loss around 358 - 355 range. Possible targets of 380-390-400
Tata Steel Bullish Buy above 441Tata Steel
Bullish Divergence
Price is making lower highs and RSI Higher Highs
Can be bought above 441 levels
Target 1 500
Target 2 555
Trend Changes below 380 levels on Closing
TataSteel LongSide - Fifth is Ready To Go #NSEAfter Long Waiting Period Wave 3rd Of 3rd is Over . . . NSE:TATASTEEL
TATASTEEL short signal at 400 I will short tatasteel because :
It is facing a strong resistance at the trend line.
Its not been able to break that trend line.
The price is again at the resistance trend line and may fall.
If it breaks the resistance trend line then we will be looking to buy.
Entry : 400
First Target : 320
Second Target : 280
Stop loss : 440
Tata steel broke its important support, Short for SwingTata steel is looking weak among all stocks in metal sector. Breaking PDL may bring to target of 378 or till 200dma in coming sessions.
Channel pattern exactly at resistance.Price as discussed in weekly time frame ( related ideas) rejecting from the trend line, as said after confirming the rejection we can go for short trades.
AS seen in the pic price is forming a parallel channel pattern at the weekly trend line which is the rejection levels, wait for the channel break and enter the short trade.
If channel breaks up then the above analysis is invalid look for long trades, don't jump in long trade immediate.
TATA STEEL: Rs 440 volts & Falling WedgeLower 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.
