As we can see a weekly chart of the stock named Tata Steel which is going to make a new high in coming week, all technical indicators are on positive side, so Metal Sector will make new high, one can look for TATA STEEL in cash for a target of 180 and 200 in coming week.
Tata steel ltd. looks set for an up-move as it emerges out of multiple bases.
Close above 140 would create a positive momentum.
Strict stop loss at 5-8% in case the trade doesn't go as plan.
PS: Not a buy/sell recommendation.
Currently at 143 level which in my view is acting like a resistance on Fibonacci level.
If the stock price is able to cross this level, which in my view it should, then 143+ is a good entry point for a short-medium term trade.
Fundamentally this is a great stock as well, so no harm in holding for long term. 170 also possible in long term.
Target: 154
SL: 134
As we all know metals and some minerals stocks work in cycles, as per chart and price actions all metal stocks are ready to fire up again, and from all those Tata Steel is a good name to bet on.
current price is 142. we can add up to 136
with SL of 128. this can reach 180-200 in the next 6-8 months.
TATA STEEL
KEY RESISTANCE LEVELS (136/138).
The stock has been facing resistance at 136/138 levels multiple times. We saw a breakout candle on 2nd Feb.
Follow-up buying will lead the stock further higher.
Stock price if sustains above these levels Expected move upto 160 , 180 .
