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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
TATA STEEL (BUY) - LONG UPSIDE TARGET - 135 -140 LEVELSTata Steel produced an upside breakthrough at the level of 118 and displays a perfect bullish falling wedge pattern. Bullish Falling Wedge patterns often suggest that the stock is bullish and that it has the ability to hit the target of 135 to 140 in the next weeks. If it breaks the 135-140 levels ,then the stock might go for a small retracement or correction and will give a rebound back towards the new targets of 170 levels.
NSE:TATASTEELLong
by ActInvest_
TATASTEEL - (BREAKOUT AND RETEST)buy tata steel at current levels of Rs. 115-118 The logic behind the trade: • tata steel was forming a triangle pattern which is visible in the chart attached below. the structure started to form in mid-august of 2021. (Reason - increase in coal price and increase in taxes) • Since then, the stock formed lower highs and lower lows (bearish trend) on a higher time frame which is weekly. • In the previous week the stock broke out from the resistance levels provided by the triangle pattern and retested them this week (note - now the resistance levels will act as support levels). • Volumes were also higher the previous week as compared to this week. • Also, the coal prices are decreasing now, and the taxes were also removed a while ago which will ultimately result in a margin growth that will go in hand with increasing demand.
NSE:TATASTEELLong
by narenkumarbe