Chart of the Week (08/05/2021): Tata SteelThe whole metal sector is running and Steel is a big beneficairy right now. prices are not coming down and we can expect further upside from this counter. Keep a Stop Loss at Rs.1100
Tatasteel_long
TATA STEEL ON PRICE DISCOVERYTata steel crossed 885 levels which were long term resistance since 2007 .
levels are marked on the chart .
I am mega bull on Tata steel with price discovery around 3500 levels .
Can i buy TATASTEEL ?the stock is moving you in a rising wedge pattern.
Looking at the MACD on daily time frame i think the trend is still +ve but the stock might give some correction or consolidate
The MACD divergence has turned negative.
Scenario 1 :
The stock will move in it's rising wedge pattern and eventually breakdown and move towards the 23.6% retracement level.
This can be a good buying opportunity
Scenario 2:
The stock will break its all time high and will continue to keep moving higher.
TATASTEELBuy above 740 when 15 minutes candle close above 740 than enter @9:32 for buying
Sell below 728 when 15 minutes candle close below 728 than enter@9:32
Only learning and educational purposes.
As I already discussed that sell below 753 and our all target done .
TATASTEEL viewA bullish flag patter breakout now closed @775 next big target is 840 if not break 720 level
TATASTEELTATASTEEL as shown in the chart it will test once of the trend line @695 than continuous it's uptrend
Tatasteel viewIn previous update I said that buy near 550 but it turned out from 585 and break resistance and moved 6+% in a day. Now Tatasteel created big green candle in weekly chart. So ,Buy on dip simple.
Tata Steel PreparationTatasteel is ready to go after more than 2 years long downtrend. Key level 428.85 according dow theory. In last week average volume are very high. The upcoming week tatasteel and cnxmetal index can break key level. Keep watching.
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.
TATASTEEL Ascending Triangle Pattern (Short term swing)This analysis is purely based on price action and chart patterns
This trade is for short term swing or positional trade.
Trade Strategy is explained in image itself.
*Plan your trade accordingly and trade on your own risk & money management*
Pls comment for any queries or suggestions
R-0131 BUY STOCK OPTION TATA STEEL CALL 370 AUG370 CE CMP 12.85-13.85
SL 7.80
TGT 25
The price has corrected from day's high but chart pattern still looks bullish so a good buy at the current level.
R-0060 A breakout trade in Tata Steel Go long Tata Steel futures in the Rs 350-352 range with a stop loss at Rs 345 for targets of Rs 360 and Rs 375.
After a prolonged downtrend, Tata Steel has staged a smart recovery in the past few weeks. The series of buy signals in the daily Point & Figure chart is a bullish sign. The breakout above the downsloping trendline in the Point & Figure chart reinforces bullishness. The price is also outperforming the Nifty Metal Index indicating relative strength.
Tata Steel bullish above 349 - Trading LevelsNSE:TATASTEEL looks bullish above 349 levels. Currently facing a head on resitance.
Any close above 349 can take it higher levels.
whenever price came to long term support,stock has give outstanding return in 2,3 years. pls read carefully in chart. i have mentioned everything. before investing do your analysis too.
TATA STEEL BREAKOUT AND NOW TIME TO BUYTATA STEEL BREAKOUT AND NOW TIME TO BUY
& GET 1:2 RISK REWARD LEVEL AS INTRA-DAY.
AND SHORT TERM TRADING LEVEL. YOU CAN TRADE WITH OPTION (ATM) (ITM) & WITH FUTURE JUNE EXPIRY
AND FOLLOW THE STOP LOSS IF YOU GET 1ST TARGET THEN YOU CAN TRAIL YOUR STOP LOSS.
PLEASE GIVE ME ENERGY FROM YOUR VALUABLE LIKE BUTTON AND SHARE AND COMMENTS.
Tata Steel - Long Term HoldingTata steel is approaching their major support area . Level is 200 Rupees . Investors can Open a long positions from this level
tatasteel may start a new long trend as i shoed you on the chart tatasteel may start a new long trend
. trade with your own risk
Longterm BUY TataSteelWe have a Mid level Buy Signal for Tata Steel now confirmed by all other aspects of Ichimoku.
One can enter long here CMP 549.95 and add more at 537 Target 820
If stocks sustains above 820 then it will start new uptrend.
TATAPOWER super bullMy earlier message about this scrip is void. It was only till the expiry which was today.
This sector has seen too much of negativity in the short run.
Technically, the price has broken the downward pattern.
It has to test the high to contemplate a run downwards.
86 is the short term target and 91 for medium term **if the short term goes well**.
