Trade ideas
Tata Steel Ltd - Breakout OpportunityDate : 26-Sep-2024
LTP : Rs. 165.61
Resistance Levels: (R1) Rs. 184 --> (R2) Rs. 210
Support Levels : (S1) Rs. 147 --> (S2) Rs. 142
Technical View:
• NSE:TATASTEEL is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 184.60 on 18-Jun-2024, it has retraced 23% to 142.35 level.
• NSE:TATASTEEL has breakout from it's secondary downtrend with higher than average volume. Breakout is also supported by increased volume in last few sessions.
• NSE:TATASTEEL is trading above both 20 DMA and 50 DMA since last few sessions.
• RSI is trading at 70.29. MACD is trading at 1.38. Both MACD and RSI are showing positive divergence.
• Looking good to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
Breakout from Ascending Triangle Pattern + Strong Reversal
Tata Steel is currently trading above a long-term ascending triangle pattern, which indicates strong bullish momentum. The stock has successfully bounced from the trendline support and is now approaching key resistance levels around ₹170. A decisive break above this resistance could lead to a strong upward rally, targeting ₹200 and above in the short to medium term. The RSI is trending upwards, suggesting positive momentum. Traders should watch for a breakout confirmation with increased volume to validate the bullish move.
Tata Steel for 25% gainDate: 24 Sept’24
Stock: Tata Steel
Timeframe: Daily
Tata Steel seems to be in Wave V of 5 which has a likely target of around 200 (25% from current price of 160) as seen in the chart. Volume is high and RSI is strong. Even if this price is achieved in next 3 to 6 months, it is a safe bet.
This is not a trade recommendation. Please do your own analysis.
Bouncing from a crucial accumulation zone with volumes.NSE:TATASTEEL Bouncing from a crucial accumulation zone with significant volumes.
147-157 Will be the Key accumulation zone, with an upside of 168 to 185 Zones.
The Metals Sector is in Favour With FED Rate Cuts and China Rate Cuts. Keep a Watch.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Tata Steel Bull Call Spread !!! Amazing opportunityTata Steel after taking support on 50 DEMA has resumed its upward trajectory. Chinese central banks have decided to ease monetary policy by 50 basis points following the feds but fundamentally to support growth as economy has been slowing down. This is good news for global commodity markets because slow Chinese economy dumps commodity in the global market. Tata steel is likely to benefit with its recent capacity expansion. Price action supports this theory. One might position to benefit by employing bull call option strategy.
TATASTEEL SUPPORT & RESISTANCE For Tata Steel (TATASTEEL), the key support and resistance levels are as follows:
Support Levels: ₹119.25, ₹119.011
Resistance Levels: ₹120.9, ₹121.521
These levels can help you identify potential entry and exit points for your trades.
Short-term traders can look for sell opportunities around the immediate support level of ₹ or the support level of ₹ .
Medium-term traders can consider long positions around the resistance level of ₹ or the resistance level of ₹ .
Long-term traders can look for buying opportunities around the support level of ₹ or the support level of ₹ .
Tata Steel Monthly Chart Tata Steel
Monthly Chart
Tata Steel From 0 Fibo to 0.786 touch (Low 83 High 185)
From 185 ( 0.786 Fibo To 0.50 Fibo ) Low Rs 148
Next Upside Move Starts From 0.50 Fibo Levels To 1.618 Fibo Levels
Cmp Tata Steel 154 (as per 0.50 Fibo it comes to 148 ) SL 133 Tar 164,185, 213,263, 293
(Long Term Chart)






















