TATA STEEL LONG Potential BO candidate C&H, trendline BOTata steel looks good on daily chart with a potential Break out candidate. It has formed a C&H pattern on daily chart & also breaking the trend line & the previous high trend line. Volume has been good over past few days. The RSI is in 60+ zone so the stock has good momentum with Strength. Keep an eye on the counter, can give some good returns in short term.
Discl; Chart of reduction purpose only, not a reco to buy or sell. Trade as per your own research
HWHG trade ideas
TATA Steel Short trade setup- MarchEducational purpose only: herein TATA steel has marking Expanding Triangular pattern at wave ((B)) position.
It was a very rare scenario . Only 5% possibility for this type of correction. And same time wave ((B)) Retracement has been completed 50 % of a wave ((A)) with Expanding Triangular.. here Metal index formed FLAT correction.. this on of the main confirmation. Why I am saying this TATA stell main contributor to Metal index.
* Fib proportion 50% of wave A
* Second confirmation Metal index flat correction beginning.
* Clear pattern.
* Quality of the wave formation. Perfectly identical pattern.
* It right time to short trade.
*Support level 920-880.
Now we target to wave ((C)).
TATASTEELAfter downtrend from aug 21 to nov21 stock traded in range or accumulation phase 1060 to 1250 now stock has given breakout from its major resistance zone of 1250 to 1350. Buy above 1350, TGT 1500 ++, SL closing below 1300. For educational purpose only. Kindly contact your financial advisor before entering any trade.
Tata Steel Ichimoku Bullish Breakout Stock Name - Tata Steel. As per the ichimoiku rule, today's close is above the Conversion Line and future kumo
is super bullish and chikou span is slanting upwards. All these parameters are showing the further strength &
More strength will be visible once it will cross 1375. Worth to keep in watch list for coming days
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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# Ichimoku Cloud
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Continuation of multi year breakout.From April 2020 Tata Steel has been in a uptrend stock. Since few months stock has been correcting and making lower highs and lower lows and current price action shows breakout and retesting of correction. Tata steel may or may not consolidate at current levels for 2-3 days and any upper momentum will confirm it's upward journey. NSE:TATASTEEL
TATA STEEL VIEWHi, Tata Steel gives breakout in triangle pattern after long time, Now it is consoldating in range, Wait for range breakout Then we can see good momentum, Generally pattern showing FLAG & POLL Pattern after breaks trendline, After range breakout we can see level of 1370, 1425 & all time high. Let's see.
Tatasteel under 4th wave formationTatasteel under the formation of 4th wave, in that its clearly formed ABC formation in downside, will get first confirmation for 5th wave on crossing 1330 level by momentum candle formation. If its crosses above 1550 level than next target will expect upto 1700 & above.. if its fail to cross 1330 and above than we can expect another ABC formation in downside upto 1064 level and below..
Disclaimer
This article is only for educational purpose. Not recommending any thing thank u..