TATASTEEL trade ideas
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.
TATA steel good short candidateTata steel spot cmp 420
Bearish BAT pattern formation
PRZ around 419 to 422 levels.
Rising channel patter :- counter is trading around resistance line of rising channel formation
RSI divergence :- price making higher and RSI making lower high,, bearish divergence..
AT cmp counter is good short candidate
Pattern violation above 433 levels on closing basis
Down side 400,,390.380 levels possible..
TATA STEEL - Large Cup N Handle AwaitingTATA STEEL - Looks like a Bigger Cup N Handle awaiting above 440. Let us See. Keep on Watchlist.
TATA STEEL INVERTED CUP AND HANDLE PATTERN (EDUCATON PURPOS)PATTERN IDENTIFYED AND LET SEE WHAT HAPPEN ONLY FOR EDUCATION PURPOSE
Intraday Pick for Monday 19th October 2020Nifty metal is given a breakout recently and the leader of the sector also has changed their move-in Upside. A good candidate for today's Intraday.
Tata steel
Buy: 396
SL: 390
Target: 401/406/410
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
TATASTEEL ( 75 Min ) - Breakout TradingTATASTEEL (75 min)
Small pole and a flag is seen . Height of pole is Rs.10 . Rectangular flag height is Rs.4
Fib drawn from swing high 405 to swing low 343
.618 level is 381.7
Last 5 days price is around this range
Buy above 385.75 for a target of 390 - 395
Volume is above avg
RSI > 60
Stochastic > 75 however red could cross blue
ATR is 5.84 . Therefore 1* ATR or 2*ATR could be target
Tata Steel Inverted Cup and Handle PatternTata Steel looks weak and appears to be forming an Inverted Cup and Handle Pattern in the daily chart. I would look to short it in the supply zone of 370-375 for targets of 360/343/330.
TataSteel - bearish It is dropping from Supply zone and now continue to go Down Till Dotted line.
Price respect Demand & Supply Zones.
SHORT IDEA ON TATASTEELTATASTEEL in a clear downtrend on larger timeframe respecting two beautiful trendlines
presently support around 355 level breaking this would lead to 315 levels
if support holds can bounce back to previous breakdown level 386
for more updates follow
TATA STEEL...Cautious on long...Travelling towards its long term support...
Awesome buy at 286 for an target of 442.
Buying at 286 far cheaper than its book value..
Do your own analysis before investing...
TATASTEEL 1HRBullish Crab. Ultra high volume down bars - trap of Smart Money , Higher volume-Professionals are buying into the public selling
Price on breaking of ULTRA HIGH VOLUME Candle HIGH with NO SUPPLY i.e place for BUY
POTENTIAL BUY
TATASTEEL Daily Bearish BAT .....Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
High + volume show supply – public buying – smart money selling..As INCREASING VOLUME is present ON last DOWN BARS defines Strong sell Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .Vertical dotted line is ULTRA HIGH VOLUME i.e SMART MONEY
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR. as High volume shows interest to the upside from “Smart Money” so prices may go higher.SET UP BECOMES VALID ONLY when Price breaks ULTRA HIGH VOLUME Candle LOW with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
