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Steelsector

$X : Is Steel Ready For a Fall or Breakup?It appears Steel has reached an area of overhead resistance and at a quick glance one may assume it's ready for a break after temporary sector distortions due to covid and supply issues that plagued many sectors. We also know there are pressures from "cost inflation" as well that plague mines, as well as builders but it seems too early to tell if price will turn around and head down, fairly, quickly, or will these pressures in supply force prices upward. It's also been suggested there is enough supply overhead despite, "sheet mills in North America relying heavily on the low phosphorus pig iron from Ukraine and Russia", according to industry publication the Steel Market Update. Russia and Ukraine’s pig iron supplies account for 60% of US imports. Prices for steel have been falling since the fourth quarter of last year as supply exceeded demand, according to Axel Eggert from the European Steel Association. If supply exceeds demand, it's a no-brainer, however, there's this below: “Ongoing supply chain disruptions, skyrocketing energy and carbon prices, as well as persisting inflation are putting the recovery of the steel sector at risk. Combined with the current EU climate and energy policies, these are the ingredients of a dangerous cocktail that may drive Europe into a structural crisis and industry out of Europe." There's a push and pull of we have enough vs we won't have enough because of a, b and c. It's too early to tell. Need to just watch price as that will be the canary in the coal mine. :)
NYSE:X
by fortunaequitis
TATASTEELHello and welcome to this analysis on Tata Steel After a long correction which lasted more than 7 months, in FEB the stock gave a vertical recovery rally. The rally ended with a diagonal indicating signs of short term exhaustion. Earlier this month we saw the diagonal breakdown and today we are witnessing more selling pressure in it. It could continue this decline till 1250 as long as it fails to move above 1320. Medium to long term stock remains bullish. Short term weakness might continue
NSE:TATASTEELShort
by Dinesh_C_Nagpal
SAIL Trend AnalysisExpecting strong momentum due to strong bullish divergence in RSI on weekly TF. Price bounced nicely from support and broke out of the bull flag with increasing volume. It can retest 100-105 levels during this correction phase before blasting off higher. I believe infra and realty sectors are going to boom this year, it will positively impact steel and cement stocks as well. Buy around 100-110 levels Target 1: 185 (75% ROI) Short Term as per bull flag Target 2: 280 (165% ROI) Medium Term as per cup with handle. Both the targets seems achievable by year end. My studies are purely based on TA, Do Your Own Research before trading or investing. Peace !!
NSE:SAILLong
by Swastik24
Buy on dips for 40% returnHi All, Please refer chart for detailed explanation on technical analysis . Falling wedge is one the most accurate pattern. One can use buy on dips strategy. If you think my analysis is helpful than please do like my idea. For future reference do follow me so that you do not miss any of my analyses. You can also check my Axis Bank trade for 20% return. Link is shared below or else you can visit my profile and check all the Ideas which I have shared. Feel free to leave any questions you have in the comments! I will gladly respond to them. Hopefully, this helps you out a little bit. Please make your own research before investing. P.S: This is not an investment advice. This chart is meant for learning purposes only. This is my personal viewpoint so please Invest your capital at your own risk
NSE:SAILLong
by RohanLakhani4
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