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.
I 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
Disclaimer: It should not be assumed...
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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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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Tata 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...
