TATA steel good short candidateTata steel spot cmp 420
Bearish BAT pattern formation
PRZ around 419 to 422 levels.
Rising channel patter :- counter is trading around resistance line of rising channel formation
RSI divergence :- price making higher and RSI making lower high,, bearish divergence..
AT cmp counter is good short candidate
Pattern violation above 433 levels on closing basis
Down side 400,,390.380 levels possible..
HWHG trade ideas
TATASTEEL Ascending Triangle Pattern (Short term swing)This analysis is purely based on price action and chart patterns
This trade is for short term swing or positional trade.
Trade Strategy is explained in image itself.
*Plan your trade accordingly and trade on your own risk & money management*
Pls comment for any queries or suggestions
TATASTEEL ( 75 Min ) - Breakout TradingTATASTEEL (75 min)
Small pole and a flag is seen . Height of pole is Rs.10 . Rectangular flag height is Rs.4
Fib drawn from swing high 405 to swing low 343
.618 level is 381.7
Last 5 days price is around this range
Buy above 385.75 for a target of 390 - 395
Volume is above avg
RSI > 60
Stochastic > 75 however red could cross blue
ATR is 5.84 . Therefore 1* ATR or 2*ATR could be target
TATASTEEL Daily Bearish BAT .....Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
High + volume show supply – public buying – smart money selling..As INCREASING VOLUME is present ON last DOWN BARS defines Strong sell Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .Vertical dotted line is ULTRA HIGH VOLUME i.e SMART MONEY
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR. as High volume shows interest to the upside from “Smart Money” so prices may go higher.SET UP BECOMES VALID ONLY when Price breaks ULTRA HIGH VOLUME Candle LOW with LOW VOLUMES & with NO DEMAND l.e place for short
POTENTIAL SELL
TATASTEELRANGE OF 405-407 MIGHT ACT AS SUPPORT HERE, IF SUSTAINS THEN 416, 421 AND 427 ON CARDS IN UPSIDE
ELSE 400, 393 & 385
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I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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