Market insights
investment and trading idea for 2023 metal index
hindalco
tata steel
to me all three are looking positive for 6 months time period
TaTa steel is looking good on daily and weekly time frame
rsi is taking support from 40 levels on daily as well as weekly time frame
however on monthly time the confirmation is yet to come but monthly confirmation will not at come these prices till we find monthly confirmation prices will be above 120 levels
should not go below 80 levels from here my first target is 130 on tata steel will add more above 108 levels this will be a pyramiding trade for me i will add on higher levels not on lower levels
this trade is for final wave on metals dont get trapped later on
Tata. Steel on verge of breakout after long consolidation ?NSE:TATASTEEL is trading above 954 which is a signal for bullish breakout of head and shoulder pattern. According to chart patterns this scrip will result in a target of 1235. Long positions can be initiated for short to medium term. BTW today it will declare results too.
- Strong demand
- Growth in overall segment
- potential and record earnings
- Stock split next week
The idea shared is for educational purpose only.
BULL RUN Resumes in Metal stocks ? Tata Steel breaking out !!Tata Steel is trying to break out of the long Consolidation (1.5Years+)
It did a breakdown on 23rd Decemeber but immediately reversed which suggests a furious move on the other side.
It was also the 61% Retracement of recent trend.
Important Levels:
For Long term Investors: It should not Close and sustain below Rs100. Trade below 100 opens up the areas of Rs80-85.
For Short-medium term traders: It should not enter into the triangle zone again. Entering in it will suggest the lose of momentum and a trader must exit if it happens.
On upside: 130-135 seems to be the first hurdle zone for Tata steel.
But, according to the long term chart structure, it has a very long way to go.
I am expecting a new ALL TIME HIGH SOON till the downside levels are saved.
NOTE: These are for educational purposes. No Recommendation.
TATA STEELNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
Keep an eye ladies and gentlemen. Cheers and Happy Trading






















