What seemed as a Bullish Pennant at first has now formed a proper bull flag pattern. Refer to previous analysis(Link given):
Target Update
Entry = Rs 96+
T1 = Rs 110
T2 = Rs 121
T3 = Rs 138
T4 = Rs 150+
NSE:TATASTLBSL
BSE:TATASTLBSL
TataSteel BSL is ready for a breakout after a rally in metal sector started!
Breakout in Metal Sector.
Breakout with fresh volume
Flag Breakout.
Targets are based on charts.
Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.
Tata Steel BSL has broken the falling trendline with volumes. It is looking good for a long position with targets of 98 and 109.5. Stoploss will be below 87 on a closing basis.
As you can see the flag pattern, you can take your position if the stock crosses price of 93.25.
Target - 146
SL - 81
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Tata Steel Bsl made Flag Patter in the 15 Minute Time Frame.
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So it can give the move you can buy at 90 for the levels of 92.65 For Intraday purpose.
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Tata Steel BSL Ltd
CMP: 97.55
Buy Range:90-100
Upside Target: 109.65, 112.45
Support Level: 88.9
Can buy on dips. Good for long term investment. Chances for multi-fold returns.
Good Luck!
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we can buy tata steel bsl at current market price with a first stoploss of todays(10-05-2021) low 98 and second stoploss of 85 which appear on recent red candles low on daily time frame for 1st target of 135 and 2nd target of 155 .
logic behind the trade is 1- we see a large rounding bottom with breakout
2- for stoploss we use todays(10-05-2021) low and recent red...
