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.
