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
Trade ideas
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
Tata Steel Waiting For Correction near 70-80 AreaTata Still is in weekly correction, and correction could move price to the next zone of 70-80 rupee.
Chart Time frame vs accuracy..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 next 2hrs? (use 5min or 15min chart)
2. Will price move up by 5% in next 3 weeks? (use 1hr or daily chart)
3. Will price move up by 15% in next 6 months? (use weekly Chart)
Even if you are using simple logic and charting tool accuracy of Answer to Q3 will be much higher than Q1.
When accuracy increases it is less taxing on our mind and we can get reasonable return without much stress. To trade weekly chart we need patience and a reasonable SL. This will also allow us to build position over few weeks as we get clarity of trend.
Let us understand with few samples.
This is 5min chart. We can see lot of whipsaw.
And below is weekly chart. We can see reasonable trends over few weeks.
TATA STEEL RETESTING AFETR BREAKOUTThe 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
Tata Steel Upward trendingTata steel showing upward trending after Fibonacci retrenchment from 618 level.
good to go Long run Upward trending.........
#TREND TRADE TATA STEELIt 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.
TATA STEEL following the trend line 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
Bullish structure spotted in Tata Steel very tiny small stoplossIt appears that Tata Steel's structure has been disrupted, but we could still make a profitable trade with minimal risk using a favorable risk-to-reward ratio.
Tata steel close to breaking trendlinetata steel almost breakout 127.90 and 127 are the points to watch targets 140
TataSteel - LongTata Steel has given a clear Cup and Handle breakout.
The breakout is supported by good volume as indicated in the chart.
In near term looks like it will reach 150.
CMP: 128
Target: 150
SL: 117
These are my views, please do your due delligence.
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Bullish on Tata steelTata Steel has given a pole and flag pattern breakout, which is a bullish continuation pattern that indicates a strong uptrend. This implies a potential upside of 50% to 55%.
