Short term trade setup in TataSteelThe chart is self-explanatory, with all levels marked for Short term trade setup in TataSteel.
Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
Tatasteel
Channel BreakoutAn ascending channel is used in technical analysis to show an uptrend in a security’s price.
It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively.
Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals.
Script = Tata Steel
Time Frame = 1 Day
JSW Steel at strong resistanceJSW Steel near the strong resistance levels for 5th time since 2 years near 770-775
Expecting the strength of the resistance to be less on this 5th attempt and have a possibility of a breakout on the north.
Also shows Flag pattern if pattern is looked upon.
Near term I am expecting it to go 868-997 if it breaks out with good volume.
Other charts of same Sector should be checked if the sector has a momentum.
No recommendations, just my view based on chart.
TATA STEELNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
TATA STEEL : BUY NOW AT SUPPORT LEVEL TO HOLDTata Steel Limited is an India-based steel manufacturing company. The Company is engaged in the business of steel making, including raw material and finishing operations.
The stock CMP : 106.30 is currently reversed from downtrend and retested support @ 103.20. There are two formations, one is parallel channel and the second is Symmetrical Triangle Pattern. The stock is at support in both patterns. Appropriate time to enter the trade with least Stop Loss @ 103.50 or 102.25 for targets as 111.20 , 118.90 , 124.40 and 133.10
The positive trend in Nifty Metal , is favoring the trade and Once , 50 EMA crosses over 200 EMA, we may see sharp rise in the price.
This analysis is completely for education purpose, please trade only after your own analysis and at your own risk.
Best of luck !!
Morning StarA morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
Script = Tata Steel
Time Frame = 15 min