Short-medium term BullishCurrently 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
HWHG trade ideas
Tata Steel: A new cycle to startAs 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 SHORT TERM VIEWTATA 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 .
Tata steel sell recommended near 139 with 142 SL 131next TargetOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Tata steel near big resistance if 142 not break then 132, 124 On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
TATASTEEL review - resuming upwards journey past 150++reviewing NSE:TATASTEEL
chart posted on 31st July 2023 when the price was 123
After some consolidation, now resuming upwards journey and now trading at 134
This stock offers ample opportunity to enter before it moves past 150++
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is consistent with your studies.
link of 31st July 2023 post given below