TATASTEEL-- Near its Demand zone??the stock is in uptrend....now the price is near to its demand zone
A strong demand zone, may pushes the price upside...
keep on buyside from this levels....
we have a trendline support as well.....
Tatasteellong
TATASTLLP Trend AnalysisPotential Multibagger!!
Broader outlook shows a potential reverse Head & Shoulder pattern.
478 level acts as key level where price approached most of the time from either side.
Now price is moving inside a falling wedge which is a bullish pattern after breakout and price is about to make a last swing low around the key level.
You can either buy after wedge breakout or accumulate around 460-500 levels for the following targets:
Short term swing target @ 785 (63.5% ROI with 3.8 R:R)
Medium term swing target @ 1100 (129% ROI with 7.75 R:R)
Long term positional target @ 2000 (316% ROI with 19 R:R)
Stop loss around 400
It can easily go beyond 2000 as well, will update the exact targets in future as chart pattern unfolds.
Stock hasn't performed well due to the cyclical nature of the metal sector.
CMP is same as it used to be 8 years ago but the growth figures are amazing.
CMP is just 17% of its book value.
Do your own due diligence before taking any action.
Peace!!
TATASTEEL SELLbreaking the level of resistance with a stron green canddle reaching it peek . and now itll com down again to test the level again to see if it strong enough to become a support to lunch a new trend going up
TATASTEEL - Long viewThe stock has crested a good base at the level range of 1040 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 1534 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
Thanks & Regards,
If you feel you can make use of my and put them to good use, request you to kindly revert with feedback/suggestion/improvement
TATASTEEL Breakout TATASTEEL multiyear breakout, strong resistance near 750 level, need to be kept in focus by looking at the price action and the volume levels. levels as high as 910 developed in TATASTEEL. NIFTY METAL performing very good. STEEL companies all over the world performing well.
Go long on TATASTEEL with stop loss at 700 level, highly unlikely to be reached.
MACD crossover visible on daily chart.
Since huge buying was seen today, there might be some consolidation or selling tomorrow so keep that in mind.
RSI is in overbought zone so keep that in mind as well. But it seems to hold the overbought zone since the past few days.
Both derivatives and equity can be bought, i would recommend buying 750CE or cash equity as per risk apetite. if 750CE or futures are being bought, kindly have a serious look at the price action tomorrow as atleast some retracement of today's maribozu is possible.
Kindly let me know if any clarifications are requires, you may message me or comment on this post.
Great profit opportunity visible in the steel sector in the near future, global ques also positive.
Note
Post only for education purposes.
TataSTeel Brekaout Setupprice break here with very good volume
Entry : 420 - 435
Stop : 340
Target : 480 , 535 , 600 , 680,750
