TATASTEEL trade ideas
TATA Steel Intraday strategyLong Above 910, Keep trailing Profit on the given lines above 910, - SL 895
Short Below 900, Keep trailing profit on the given lines below 900, - SL 915
This is Intraday view only
Wait for the market to settle on opening, Dont jump into the trade without understanding the trend.
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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!!
Tata SteelAt weekly timeframe, Tata steel formed a kind of double top and broke a neckline also.
When we draw a fibonacci from swing low to high. we found key levels for tata steel.
As we can see, next major support of tata steel is nearby around 700 because there is level of 0.618 fibonacci, 200 ema and also POC level is just next below 0.618. Somewhere tata steel take pullback from these levels.
We can add more quantity in tata steel if it take pullback at lower timeframe for positional near around 700 with a sl of 20rs.
Key levels are clearly mentioned. Follow rules for profitability.
Thanks & Regards
Sumit Thakur
TATA STEEL 750? IS TATA STEEL IS GETTING READY FOR A CRASH!It's a detailed analysis of tata steel stock which is listed in NSE and BSE. ACCORDING TO MY OWN ANALYSIS it's looking weak and ready for a crash like situation. The stock is looking weak as well as it as broken a swing in a monthly time frame.
TATA STEEL www.tatasteel.com
India's largest steel co.
Tata group's second largest followed by tata motor ( JLR owner) and just behind leading IT giant TCS
Net Sales grown 16.56% annually and Operating profit at 51.09%
Low debt <20%, Commands high brand value
Presence pan India, Europe, South asia and only expanding.
Steel applications- Agriculture, automotive, engineering , construction, consumers goods etc
Fundamentals-
Its 2022, War is on in russia, west plays the sanction game, the world seeks for alternate players to supply.
India stands to gain.
If china moves next on taiwan, the game only accelerates for indian players, being a diplomatic ally of all with ease of trade and geographical advantage
Inflations at ath, commodities to only get expensive, oil trades on $118 on date, aiming 2008 recession levels.
READY FOR COMMODITY SUPER CYCLE ?
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Short term 1950
long term- 5 years, 5x multiple
Macro view -