Kya TATA STEEL banega Electric EEL ?I assume it will travel in the Ascending Channel.
Dow theory Confimation
TTSTE trade ideas
Break-out followed by wave 2 pullback.Tatasteel has completed complex corrective pattern on higher degree when it went past 124 wave X peak managed to close above it.As can be seen stock is making higher highs and higher lows since the completion of wave y of WXY correction on intermediate degree.
Post break-out we are seeing a pullback in the form of wave 2 which is taking support at the same 124 odd levels.We also have 38% retracement of the impulse wave 1 on minor degree at 124.
Going forward a close above 131 will confirm the end of wave 2 on minor degree and start of wave 3 impulse on minor degree.Fib target for wave 3(161% extention) is coming at 170,however 100% extention is coming at 151.
One can initiate long above 131 for target of 152-172 with a stop-loss of 122.
Disclaimer:This analysis is for my future reference.No position should be solely on its basis.
Short Tata Steel at 123.5; Target 115.7Tata Steel is expected to test 123 price range and fall up to 115.7
Selling PressureLooks Bearish below 118.
But if it sustain above 120-121. good up move can been seen
TATASTEELBreakout and retested from weakly time frame, Previous swing is SL and fib level 1.618 is Target
TATASTEEL is not looking good to meNSE:TATASTEEL is not looking stronger because of it's week results.
Tata steel time to buy now..As per the chart now touch the support line and ready to go upside…time to buy..
Tata Steel: Chart set up and trading viewHistorical levels in Tata Steel tend to provide good Risk:: Reward ratios to enter trade.
Levels are mentioned in the chart.
View gets invalidated if Tata Steel goes below 112
Take care & sage trading..!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Tata Steel approaching trendlineTata Steel approaching trendline, as we see it moved up with fierce momentum and coming down and there are very high chances that its gonna move further south, as Nifty is moving down as well
Tata Steel Good BuyHello fellow traders,
Tata Steel recently experienced a breakout from its established trend line a few weeks ago. Currently, it appears to be retracing towards the ascending trendline from above. This retracement could present an attractive buying opportunity for investors.
Additionally, on the price chart, Tata Steel has formed a symmetrical pattern. This pattern is characterized by a series of lower highs and higher lows, creating a converging shape. In the context of this symmetrical pattern, it's reasonable to anticipate that after breaking out of this formation, Tata Steel's stock price may potentially ascend by around 63 points.
To explain further, a symmetrical pattern suggests a period of indecision in the market, where buyers and sellers are in equilibrium, resulting in a converging price structure. The breakout from this pattern often leads to a significant price movement, which, in this case, is expected to be an upward move of approximately 63 points. This could provide a trading or investment opportunity for those looking to capitalize on the stock's potential upward momentum. NSE:TATASTEEL NSE:NIFTY
Safe trader can wait for 115 level to buy
TATA STEEL: A COMPLEX CORRECTIONStock has retraced to 78.6% Fibonacci retracement of the first 3 leg on the downside. This suggests that stock is correcting into a complex flat corrective structure which can take the prices towards the level of 95 and 80 zone. On the upside key level is 135 for invalidation of this view.
Long position can be build in TATA STEELAfter a pullback the price looks good for continuing the uptrend as multiple things are colliding
together.
Tata Steel at Confluence Support ZoneTata steel gave a breakout from a promising channel pattern that has been in formation since over 2 years. Now the stock is taking support right at 50 DMA (Long tail candle), at .5 & .618 Fib levels and also at previous resistance zone which will now act as a support. Entries can be made in the same after a strong candle closes above 127 with strong volume. Short term Stop loss should be a a good candle close below 122 and long term SL is 117. Targets can be 150++. Trade can be held for a long term perspective too as Metal sector has given a breakout recently and is in a Stage 2 structure.
Tata steel brewing up the bullishnessTata steel has crossed recently its 21 EMA with decent volume on daily chart. It seems correction is over on this counter testing low around 122, hence, one can consider this scrip adding for the target of 140-145 for short term. keep SL at 122.
This will rise if Nifty does not fall.Tata Steel will rise if Nifty does not fall. NSE:TATASTEEL . Not sure sort types because of Nifty downward pressure . Better to just accumulate on fall and hope for the best.
Always remember no one is expert because market makes all look like fool. So stick to strong SL.
Tata Steel - Cup & Handle Pattern - Looking to chase 154Tata Steel is showing a cup and handle pattern. There could be a pull back and then take a ride to 154, as per the technical pattern. Volumes are increasing. RSI is above 60 and MACD is showing green histogram. All parameters are ticket, so we can see a movement upwards.
Simple and Clean Chart !!!
"Learning & Earning"
Cheers!!!!
Resistance becomes support Keep it simple.
Resistance becomes support
Buy above 126
Stoploss 123.50
Target 130
