Tata 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
Hello 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...
Stock 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.
Tata 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...
Tata 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.
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 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 !!!
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Cheers!!!!
To explain this concept I would like to use analogy of weather forecasting.
Consider you are living in Mumbai and you are suppose to make following are 3 weather forecast:
1. Will it rain on 2nd August at 1:15PM ?
2. Will it rain in first week of August ?
3. Will it rain in month of August ?
Equvivelant in stock time frame is
1. Will price move up by 1% in...
The stock has given a good breakout and has consolidated after giving a breakout and has retested the resistance of 123 moreover it can rally till 144 levels
It is on the edge of giving a breakout if it manages to sustain above 112 we can see again 123 & 137 levels in the coming week/month.
This is just my view please do your own analysis before any trade.
Make a long position after it tests the trend line
also, FII is adding positions in the steel sector
if it doesn't test the trend line make the position after it breaks 138.60
