TataSteel BSL is ready for a breakout after a rally in metal sector started!
Breakout in Metal Sector.
Breakout with fresh volume
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.
What seemed as a Bullish Pennant at first has now formed a proper bull flag pattern. Refer to previous analysis(Link given):
Entry = Rs 96+
T1 = Rs 110
T2 = Rs 121
T3 = Rs 138
T4 = Rs 150+
Tata Steel BSL Ltd
Upside Target: 109.65, 112.45
Support Level: 88.9
Can buy on dips. Good for long term investment. Chances for multi-fold returns.
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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...