TATASTEEL trade ideas
TataSteel, 200 DMAI attribute lot of importance to three DMA--50,100 and 200. Why? Here is the logic to elaborate the same. Have look at the arrows. Price slid down 200 DMA and then it made two attempts to reach 200DMA but could not surpass the same. Since 50 crossed 200 on the downside. Now 100 crossed 200 which is quite negative. All rises will be sold. I posted this chart many days ago.
TataSteel, BreakdownBreaks down the support level. Why? 50 DMA crossed 200 DMA and now 100 DMA crossing 200 DMA will accelerate the downslide.
TataTseelI repeated that result time should be avoided. Q4 result has been quite good yet price came down.
TATA STEEL to reboundTata Steel is now out of the downtrend channel and also we can see bullish divergence which confirms the short term trend reversal.Long term view for tata steel is very bullish but it has to move out of the accumulation phase for bull run.I've drawn some resistance lines.Watch these levels for possible pullback.we can expect uptrend if it manages to cross these levels.
Key levels
657
684
719
tatasteel may start a new long trend as i shoed you on the chart tatasteel may start a new long trend
. trade with your own risk
