TATASTEEL trade ideas
TATA STEEL Trading levels and my view Looking at the chart of TATA STEEL in daily time frame price is currently well above 200 DMA . currently it may remain in a trading range mentioned in chart by green box a break above the box i will become bullish but a break below i will look for buying opportunity if it react to any of my support levels mentioned on chart.
Short term Downside to 460 - Indecisive after thatThere is a 3 drive pattern, hence there is a short term downside to 460 after which , decision can be taken based on the candlestick pattern
watch Tata steelcurrently at crucial stage,if corrective pattern is visible at this price then stay out of this trade but if it breaks this zone then go long for extended 3rd wave iimpulse upto fibonacci ratio of 2.618
bearish bat pattern has also completed so better stay out of this trade
TATA STEEL HARMONIC PATTERNTATA STEEL approaching near major resistance of 472-480
any weakness near this levels will lead to 445---435 levels
TATA STEEL IS IN A PARALLEL CHANNEL, SHORT TERM LONGTATA STEEL IS TRAVELLING IN A PARALLEL CHANNEL MORE THAN A YEAR, CURRENTLY STOCK IS LOOKING FOR SHORT TERM BULLISH.
IT COULD BE HELP US TO HAVE A POSITIONAL TRADE.
PLEASE REVIEW OUR OLD POST ON TATA STEEL, WE ALMOST REACHED TARGET
COMMENT YOUR VIEWS,
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TATA STEEL WILL TOUCH 418 LEVELS SOONERTATA STEEL WILL TOUCH 418 LEVELS SOONER...
ENTRY LEVEL: 397-402...
STOP-LOSS: 394 ON 1D CLOSING BASIS
TataSteel Positional viewIn daily chart I can see buyer are keep it hold so next level is 440 keep SL as 382
