Tatasteel_tradingsetup
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.
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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 "DOUBLE TOP" & "SPINNING TOP"Sell Tata Steel At Cmp 631, Strict SL - 651 (WCB)
Target - 570/550
Tata Steel - Bullish trend reversal on weekly timeframeNote: 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.
TATASTEEL SHORTI hope you can now see how TATASTEEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . U+1F60D
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TATA STEEL multi time frame analysis. Possible down move.Hello Trader, Here is the full analysis of TATASTEEL:
1) On daily chart we can see the stock is trading at strong resistance.
2) On 15 min chart, It is trading between the short term trend line. One can look for shorting opportunity if it falls below 288.
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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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Tata Steel - Shining BrightTata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 64163.38 Crore) operating in Iron and Steel sector. Ratan Tata was the chairman of the Tata group since 1991. As he Said, "I don't believe in taking right decisions, I take decisions and then make them right".He boldly got Tata Tea to acquire Tetley, Tata Motors to acquire Jaguar Land Rover and Tata Steel to acquire Corus. All this turned Tata from a largely India-centric group into a global business, with over 65% revenues coming from operations and sales in over 100 countries.
The Iron and Steel Industry in India is one of the fastest growing sectors.The demand drivers for the Indian Iron and Steel industry are increasing in the activities of the automobiles industry, real estates industry, transportation system, aircraft industry, shipbuilding industry, etc.Tata Steel is world's 11th largest and India's second largest steel producer. Large, public and private sector players strengthen steel production capacity in view of rising demand.The steel sector contributes over 2 percent to the GDP of the India and provides 20 lakh jobs in the country.Tata Steel has manufacturing operations in 26 countries.In 2007 Tata Steel acquired the UK-based steel maker Corus and renamed Tata Steel Europe in September 2010.Tata group is most valuable Indian brand as per Brand Finance 2017.
Tata Steel is an organization that has seen many ups & downs as well as both world wars and depressions. Tata Steel has kept on moving and growing.
As per analysis point of view, I’m expecting Tata Steel to make short-term high between last week of October to the first week of November, Then short-term low between last week of November to the first week of December.Then we will see the mid-term rally for the high between mid week of December to last week of December.We will see the major bottom of Tata steel in February and major top in March around 860-920 price range.
Kulvir Singh CMT
@ Gladium Norma
