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Swing trade in #TATASTEEL TATASTEEL potentially looks good to go back into bull run ,1065 zone is acting as strong support . 1. As 1065 is an acting support we can see that there's transition comming into picture( bull's are making their entry) 2.On 27th a bottoming tail candle with volume spike was seen ( in 1hr) which means seller's are less and bull's taking control + it was at its strong support zone which was tested 4 times before and didn't broke it. 3.Higher highs and higher lows are to be seen, confirms the trend reversal ,also for extra conformation(price level crosses above the 200ema + price is moving above 20sma) 4.Correction can be seen, either in time(consolidation) or in price (pullback). 5. Will take position at HL(pullback) 50% retracement zone as well as prior resistance as an acting support or Breakout of consolidation only if we see bullish sign candles. 6. Target will be between 1234~1245 (for swing). 7.On daily Tf Tatasteel forming #descendingtriangle pattern, can also add up share if breaks the resistance. 8.Do not forget to place your SL. HAPPY TRADING!!!& I WISH IT WOULD BE HEPLFUL ,PROFITABLE AND KNOWLEDGEABLE TRADE ANALYSIS FOR YOU GUYZ
NSE:TATASTEELLong
by darshann16
Tata Steel at 9 Months support level with H and S formationObservations: 1. Currently at a strong support level. Previously support taken at this level 4 times in the past 9 months. 2. Additionally support is also given by 55MA coinciding with the 9M support level 3. Inverted H&S is formed with 9 months span 4. Falling wedge with lower low formation with 7 months span 5. Current support level is also a Fibonacci level of 0.618 in the swing from Mar 2020 - Aug 2021. 6. There were reversal sign at this support level with a formation of doji candle, but this time a strong bearish candle is formed. The current level being a very strong support level should help for reversal. As there is an indication of weakness, if the current level is broken strongly supported with an global event, major downside can be expected.
NSE:TATASTEEL
by kugan_vel
Elliot Wave View: NSE TATASTEEL (Short)NSE:TATASTEEL January 27, 2022 NSE:TATASTEEL by Dinesh Naidu (Elliotician) Hello Traders, In this technical analysis blog im going to take a quick look at the Elliot Wave Charts of TATASTEEL Cash NSE. TATASTEEL Pulling Back in Wave (c), Looking for more downside Short Term Elliot wave view in (TISCO) suggests rally to 1245, ended wave c of (iv) on January 17, 2022 high. wave (c) pullback is currently in progress with subdivison as a 5 waves towards downside. Next Key support is at 1020.85 to 983 odd levels. Formerly known as Tata Iron and Steel Company Limited (TISCO), Tata Steel is among the top steel producing companies in the world with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US$19.7 billion in the financial year ending 31 March 2020. It is the second largest steel company in India (measured by domestic production) with an annual capacity of 13 million tonnes after Steel Authority of India Ltd. (SAIL). Disclaimer: The investments discussed or recommended in the market analysis, research reports, etc. may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and only after consulting such independent advisors as may be necessary.
NSE:TATASTEELShort
by Dino_Naidu
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