Tatasteel
TATASTEEL triangle breakout Short Setup#tatasteel #nifty Descending triangle breakout , would look for short at rise for test of support levels .
Re-testing falling weekly channel and price is at 0.382% of (W3)Tatasteel, after the breaking out of the falling price channel on weekly, price is again re-testing the falling price channel.
On Daily chart price is below the 0.382% retracement level of (w3) which is at 459.10. Today's low is so far 450.65.
Wave 2 ended exactly at 0.382% (W1) at 382.
If price holds a falling weekly channel re-test level, which is around 450, it can be an excellent opportunity to go long above 459 or to be precise going long above today's high of 462 to ride Wave 5 for the price target of 550.
This week is ending with the budget day, so expecting volatility ahead of expiry and the budget.
TATA STEEL INTRADAY FOR TUESDAYIF CANDLE CLOSES BELOW BOTH PINK LINES ON BOTTOM GO SHORT AND IF TAKEN SUPPORT GO LONG EVERY THING ON CLOSING BASIS
Short-Term Correction Expected in TATASTEEL only for SELLTATASTEEL Looks SELL for short-term correction before taking next rally, sell below 489 ---> 469 target, Keep stoploss 496(on day closes above)
Tatasteel - Weekly ChartTata steel weekly chart has a probability of Bearish Bat pattern. Currently stock is trading near its prz zone.
Keep an eye on price action near that zone.
Harmonic Prz zone also coincides with downsloping trendline and .382 Fibonacci ratio level
Near term support is 430
and major support is 490 levels.
TATA STEEL AnalysisThis stock looks quite bullish on all the TFs, still, this stock might see some resistance around 501 level and give some minor downtrend towards 489 -->477-->473--> 457, before moving up. Date 3rd of January is critical which can make the top for the above prediction.
For detailed and live updates join the TG channel.
Regards,
Sharma Yogesh
TATA STEELAfter making a double bottom it is now attempting to complete the Bullish Harmonic Dragon Pattern which suggests levels of 490 and 575. The view would go wrong if it sustains below 420. Double confirmation is weekly close above 440
Positional View: TATASTEEL LONGTATASTEEL has formed a spinning top candle in daily chart.
It currently is in the range of Weekly Resistance of 428-436.
Crossing resistance of 436 may fetch 452.
Short below 420, may fetch 410/400
Long Above 436, SL 428,
Trgt 452
Short Below 420, SL 426
Trgt 410/400
Buy Or Sell Tatasteel?..intra day trade updateif you look at the charts tatasteel is near its 50 period weekly ema if it breaks one can buy with a near tgt 445 which is weekly resistance and tgt2 of 458 which is also a weekly resistance but much stronger and a strong monthly support at 432.
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TATASTEEL (Preparing for Big upmove)- Resistance turned to support
- Wick formation in daily chart with huge volumes
Expecting a gap up tomorrow. Do your own analysis before taking a trade
