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TATASTEELPP trade ideas

TATA STEEL TAKING A DIP TO ITS DEMAND ZONEDetailed Analysis of Tata Steel Chart Sector: Steel Signal: BUY Logic below: TECHNICAL VIEW - The price is currently above all the key moving averages, which typically indicates an uptrend. However, it is worth noting that the price is very close to the 50-day EMA, which can act as a dynamic support level. Volume: 40.165M | Average Volume: 26.832M The recent trading volume is significantly higher than the average volume, indicating increased investor activity. The presence of large red volume bars suggests higher selling pressure recently. Relative Strength Index (RSI): 44.37 The RSI is below the neutral 50 level but above the oversold threshold of 30, suggesting that the stock is neither overbought nor oversold but is leaning towards a potential buying opportunity if it dips further. Moving Average Convergence Divergence (MACD) - MACD Line: 0.71 - Signal Line: 0.65 - Histogram: 0.08 The MACD is positive, but the histogram shows diminishing momentum. This could indicate a potential bearish crossover if the MACD line crosses below the signal line. Key Levels Support Levels 1. Immediate Support: ₹171.53 (50-day EMA) 2. Next Support: ₹170-168.80 (highlighted zone) 3. Strong Support: ₹150.69 (100-day EMA) Resistance Levels 1. Next Resistance: ₹177.25 2. Strong Resistance: ₹183 (supply zone) Buy Recommendation Based on the current technical setup, buying Tata Steel near the current price level of ₹171.80 can be considered if it holds above the 50-day EMA of ₹171.53. The RSI and MACD suggest some caution is warranted, so a slightly lower entry point could be more favourable. Suggested Buy Level Buy Level: ₹170 - ₹168.75 (ensure the price holds above the 21 EMA) Stop Loss (SL) Stop Loss: ₹166 (just below the highlighted support zone) Target Levels 1. Target 1: ₹177.25 2. Target 2: ₹183 3. Target 3: ₹195 (Fibonacci level) Conclusion Tata Steel is currently near a critical support level around its 50-day EMA. If the price holds above this level, it could provide a good buying opportunity with a favourable risk-reward ratio. Monitoring the volume, RSI, and MACD for any further bearish signals is crucial before entering a trade. Summary Buy Level: ₹170 - ₹168.75 Stop Loss: ₹166 Target Levels: ₹177.25, ₹183, ₹195
NSE:TATASTEELLong
by rohix
Bottom Fishing - TATASTEEL📊 Script: TATASTEEL 📊 Sector: Steel 📊 Industry: Steel - Large Key highlights: 💡⚡ 📈 Right now RSI is trading at 32 stock came out of oversold zone, one can go for Bottom Fishing. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 160 🟢 Target 🎯🏆 - 174 ⚠️ Stoploss ☠️🚫 - 151 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:TATASTEELLong
by radha_23
1
TATA STEEL - 13 years resistance BO & retest! (CASE STUDY)Price observation & Overview: 1. One more example of how simple things work beautifully if observed carefully. 2. Currently, it has the potential to touch 200. 3. No new entry, if holding continue to hold. 4. Earnings are weak! Weekly TF: - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:TATASTEEL
by SuperNova396
2