Tata Steel - Long Term HoldingTata steel is approaching their major support area . Level is 200 Rupees . Investors can Open a long positions from this level
TATASTEEL trade ideas
Tata Steel major pressure Time....tata steel may provide a good resistance to bears on this date.....or it can even start a bull cycle if economy supported fundamentally....
Tata Steel - LongTata Steel has completed its bottom @ 270.75 yesterday and if todays low @255 (Spill Over) made holds expect 399 and a correction to form a HL @ 310 - 298 on Daily range and then to 454 to make a LH in Monthly range.
TATA STEEL : Short Parameters :
Position Size : %1
Risk/Reward Ratio : 2.2
Stop-Loss : 309.50
Target : 271.10
Tata Steel cmp 434, 4 hour chart, forming Harmonic patternTata steel has already given breakout from daily weekly and rested support at 420 (please check daily weekly chart), with respect to breaish butterfly harmonic pattern , point no. A-B and if C holds @ 430 (where support trendline is also seen) it will again move up to complete the pattern. Target is coming around 530 with SL at 415 dcb cmp 434. Risk to reward is 1.5:10
Remember this pattern is valid only if point no. C holds, hence prz @ 430, if it respects will be updated here in same thread.
Sharing is for education purpose only.
