Daily Timeframe Analysis
Tata Steel is approaching the lower boundary of its rising channel, a zone that has previously acted as strong support.
RSI is also near its support trendline, suggesting that selling pressure may be nearing exhaustion.
Support Zone: ₹190–₹195
A bounce from this area could trigger the next bullish move.
Price is also respecting its key EMAs, adding strength to the support zone:
1st EMA Support: ₹197
2nd EMA Support: ₹187
RSI is also trading near its support trendline, indicating that downside momentum may be weakening and a reversal could be on the cards.
Bullish view remains valid as long as the channel support holds .
Tata Steel is approaching the lower boundary of its rising channel, a zone that has previously acted as strong support.
RSI is also near its support trendline, suggesting that selling pressure may be nearing exhaustion.
Support Zone: ₹190–₹195
A bounce from this area could trigger the next bullish move.
Price is also respecting its key EMAs, adding strength to the support zone:
1st EMA Support: ₹197
2nd EMA Support: ₹187
RSI is also trading near its support trendline, indicating that downside momentum may be weakening and a reversal could be on the cards.
Bullish view remains valid as long as the channel support holds .
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.