TATASTEEL trade ideas
Tata Steel - Halt the rally and Correction time !!!Steel Stocks have Run a lot and now its time to halt the rally.
Big Bearish RSI Divergence on daily chart will do it for us.
One should look to take profit at these levels.
My targets are 585-590.
Invalidation is daily close above 730.
Broken Demand ZoneTata Steel Analysis.
Broken Demand Zone, expecting to go 620 and below.
Let's see.
Tatasteel DownTrend Short Short at 650
Reason :-
1. Shortening of Thrust
2.Break of Demand Line
3Price Below Weekly CPR
4.Swelling of Volume , AKA Capping of Market
5.Wave Structure change to Aggressive Sellers
6.Huge Effort(Aggressive Buyers) But No Result(No follow Through
7.Price below 55EMa and Making LH-LL
Tata Steel - may reverseFalling wedge seems to have been completed.
Go long for small targets.
I have purchased 700 call
TATA STEEL RUNNING W4. On smaller TF, W4 may have finished and W5 = W1 sets target to 787.
However, if W4 is yet to finish, it may take price level to 569. Taget from this level sets target to 714.
Aggressively one may enter in long trade now and average at 569 levels or enter after reversal and confirmation of upmove.
TATASTEELI'm not an expert I'm just sharing my views on TATA STEEL for next trading day
I'm not responsible for any profit or loss this is not a recommendation.
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.
Tata Steel: Time to watch: India By Sun Storm Investment Research
A Profit & Solutions Strategy
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
Tatasteel viewIn previous update I said that buy near 550 but it turned out from 585 and break resistance and moved 6+% in a day. Now Tatasteel created big green candle in weekly chart. So ,Buy on dip simple.
Tata Steel may come down a bitTata Steel may come back within positive channel and thought still trend is positive there could be opportunity for shorting for few points maybe 25% width of channel.
Be careful the correction is not 25% of 722 it is 25% of width of channel.
Tata Steel692 to 710 is a Possible reversal zone based on multiple Harmonics
Short only if we can find reversal from PRZ, Trend is still upwards
Tata Steel Turning Bullish - Expected Target around 680--700Bull Call Spread on Tata Steel
+1x 31DEC2020 630CE - ₹ 9.65
-1x 31DEC2020 680CE - ₹ 1.4
Max. Profit - ₹ +70,975
Max. Loss - ₹ -14,025
Max. RR Ratio - 1:5.00
Breakevens - 639.0
Estimated Margin/Premium - ₹ +36,997
Tata Steel: Time to Buy & hold: IndiaHappy New Year
By Sun Storm Investment Research
A Profit & Solutions Strategy
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
TATA STEELTata steel had touched very important resistance level but it couldn't able to break. So may be this stock will go to downtrend. If you like my idea then please follow me on tradingview.
Tata Steel - Intraday Trade SetupTata Steel CMP - 643.10
Looking bearish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Sell at or Below 640 / Stop Loss 654
Target 1 - 635
Target 2 - 630
Target 3 - 625
Disclaimer: This is my view and for educational purpose only.
divergence price action strategySee all my Publications if it seems to give you both knowledge and profit then only like subscribe and share to your near and dear.
thanks for my masters trading panthulu, day trader telugu, and nayan pokarkar.
These are all for educational purpose please consult your financial advisor before investing your hard earned money.
