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TATA STEEL LIMITED

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TATASTEELPP trade ideas

Leading Diagonal wave 5 in the making.Tatasteel has started an fresh impulse post a complex WXY correction running on intermediate degree there by completing wave 4 on Primary degree.Evidence for this is trend-line breach along with price challenging wave X high. This fresh impulsive move has taken a form of leading expanding diagonal which has marked the start of wave 5 on primary degree.Of this impulse it seems like we are beginning wave 5 which can take price to the level of 127 from CMP of 117.On the downside one can keep an exit 114 which gives us an Risk-Reward of 1:3. Additional evidence for going long is price has crossed 200 sma and has managed to stay above it and is making higher high's and higher low's. Disclaimer:Posting this for my future reference do not initiate position solely on the basis of this analysis.
NSE:TATASTEELLong
by UNDERDOG-29
Tata Steel's near breakout range on Daily Chart (10% Upside) **Tata Steel Technical Analysis - Potential Breakout Momentum (Daily)** **Technical Overview:** - Tata Steel (Ticker: TATASTEEL) is currently positioned near a potential breakout range on the daily chart. - This situation could lead to a substantial 10% upside momentum if the breakout occurs. **Key Points:** 1. **Breakout Range Alert:** - Tata Steel is on the verge of breaking out from its current range on the daily timeframe. - A successful breakout could trigger a significant price movement. 2. **Bullish Momentum:** - The stock displays evident bullish momentum in recent sessions. - This momentum often signifies increased buying interest and positive sentiment. 3. **Higher Highs and Higher Lows:** - Tata Steel's price pattern is characterized by forming higher highs and higher lows. - This pattern indicates a strengthening bullish trend. 4. **Breakout Watch:** - Traders keen on breakouts should closely monitor Tata Steel within the provided range. - A decisive breakout beyond this range could lead to substantial opportunities. 5. **Entry Strategy:** - For potential buyers, consider initiating a long position if the stock price successfully breaks the specified level. - Confirm this breakout with notable trading volume, indicating strong market participation. - Implement a strict stop-loss mechanism to manage potential risks effectively. **Disclaimer:** *This analysis is intended solely for educational purposes and is not to be considered as financial advice. The author does not assume any responsibility for losses that may arise from executing trades based on this analysis. Always conduct your research, consider multiple factors, and consult with financial professionals before making investment decisions.* --- Remember that trading and investing involve risks, and no analysis or strategy guarantees profits. This analysis should be used as a starting point for your own research and decision-making process.
NSE:TATASTEELLong
by AkshathTiwari