TATASTEEL--Near Its Resistance??This stock is now at resistance levels....
on bottom side a strong support is created at 136 levels...
if this support fails, next we have trendline support,
if both fails then will look for short side....
now this resistance point is to book profits and keep in long side until price breaks this demand and trendline. On bottom neckline support @129 as well...exit from long when price breaks this level of support.
Tatasteel_trade
TATA Steel Positional Buy LevelsNSE:TATASTEEL has been succeed to trade above level of 119.35. My idea is to take buy entry at current level of 120 with stop loss of 116 (-04 points risk). I am expecting up side target of 122 (+02), 124 (+04) & 126 (+06) within 3-4 weeks.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
{TATA STEEL }: {POSITIONAL TRADE WITH EQUILIBRIUM ANALYSIS}
Every and any Trend has a Source and a Destination and the best way to Trade if from the Start Point of the Trend till the end of the Trend, (i.e till Destination Zone), Here we have Price created a Quarterly Source Supply and we have a Annual Demand formed which is the Detination of the Trend. Now Price reacted to the Quarterly Source Supply and has given a Downward COnfirmation in Monthly, So we luckily have a lot of time to succesfully plan this trade and enjoy the Returns with peace of Mind.
ENJOY THE RIDE ! ! !
TATA STEEL Trend AnalysisChart looks highly bearish and is replicating Metals Index.
Expecting support to be around 700 level.
Good to accumulate around 650 - 700 levels for the following targets:
Short term swing target @ 1015 (50% ROI with 4.9 R:R)
Medium term swing target @ 1180 (75% ROI with 7.3 R:R)
Long term positional target @ 1425 (112.5% ROI with 10.7 R:R)
Stop loss around 600 for conservative traders.
Fundamentally sound and currently trading below its book value, while borrowings are concerning though company is reducing it aggressively.
Do your own due diligence before taking any action.
Peace!!
TATASTEEL - Long viewThe stock has crested a good base at the level range of 1040 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 1534 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
Thanks & Regards,
If you feel you can make use of my and put them to good use, request you to kindly revert with feedback/suggestion/improvement