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Tatasteel

Tata Steel - End of Wave 3 - Ready for a quick correction?Tata steel has had a stellar runaway in the past 3 months. Considering the march lows of 240() and recent highs of 640(). I prefer to use 3 hour time frames to understand the broader trend of the stock. It seems that TATA STEEL is preparing for its corrective wave 4 for the time being. Wave 4 at max corrects till 38.2 % fib levels. Considering the September lows of 340 and recent highs of 640, the possible levels comes down to 570 and 520. Wave 4 usually corrects with the price or with time. 520 seems to be an interesting price to accumulate the same for the long term investments. Wave 5 is pending :)
NSE:TATASTEELShort
by akumar1057
Tata Steel - Looks Strong on Price StructureMonthly Chart Stock has been in Triangle Structure for around 10 Years! Stock has given breakout of this Triangle Pattern in 2017 Year and given around 250+ points rally. Since Year 2018, it is in downside movement. This movement looks like a Pullback structure rather than a Bearish Trend (enough evidences to not consider as the Bearish Trend can be seen on the chart by relating it a long year triangle breakout. It took the support as usual at the lower S&D area, please refer the chart where it has been marked with light-blue area. Even before touching this S&D area, it has got good volume when its pullback was about to complete. It clearly shows strong participants in the stock. Then as impact of Covid-19, we can see 3 back to back bearish WRC(wide range candles) but see the volume that looks less than previous volumes when price was moving up. Seeing the structure as of now, we comes under impression that stock is clearly in mood of joining its Breakout-rally trend (Uptrend) after completing the Pullback structure. Weekly Chart Study NSE:TATASTEEL Note: - No Buy/Sell recommendation, only study and information purposes only.
NSE:TATASTEEL
by ProfitPattern1
TATA Steel near to channel resistance - Sell Call for level 440#TATASteel is in downtrend in long while in uptrend in shot and following the Channel Pattern. Forming the Higher Low and lower low pattern on chart. Level 440 has highest built-up of OI and OI is increasing on CE side. Sell the Call option for Strike Price 440 or above once stock will near to resistance so you will get good premium. (Disclaimer: This is only for educational purpose and paper treading. Learn and take advice from you financial advisor)
NSE:TATASTEEL
by singajai