BREAKOUT TO TRADE:
Nifty Metal Sector has gave weekly closing above 61.8% Fib Retracement which means Metal Sector is now officially in Bullish Trend.
Our Long Term Pick is TATA STEEL
1. Symmetrical Triangle!
2.Metal Sector Staring at a Breakout!
3. Removal of weak hands done last week.
TARGET : 1500+
SL IS WEEKLY CLOSING BELOW 595
Tata 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.
650 is a major...
Tata 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
As per Day Chart,
5th wave is completed so today it takes retest to previous high(close)(627) then tatasteel comes down to 577 (may be within weeks)
Intraday (8 dec 2020) - above 614 to 627
tatasteel small retracement is started so once the reach retest(627 and wick above ) it down to 577
now it takes correction
so friends Becare
Note: This is for educational purpose only.
On weekly chart, Tata steel was making lower highs and lower lows. The previous lower high was broken with momentum. RSI indicates overbought. There seems to be a consolidation before next up move. This is a positional view.
Considering the growth in Metal sector from past couple of trading sessions and current NIFTY trend,
if TATA steel sustains above 321 - we can consider for short term uptrend.
Above 321 - > Targets 330/340/350/360 ..
Pls add to watch list & lookout for market trend before trade.
Almost Sureshot Trade
This Time Coming with Metals Sector
Tata Steel Buy near 260-265 Levels
with one and Only support 249-250
for a Target 280-295-310+
Comments For Any Stock Related Query !! I will Try TO Post My View WIth All Levels And Chart
if 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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One might buy Tata steel on dips with SL placed at 455 and targets of 479/485. The RSI is placed at 30.36 and indicates a high probability of a bounce back. It is also supported by the bullish candle created today. Bounce on the Nifty also supports the move.