Let’s hope good support at 1050 Tata steel have good support at 1050 if fall then 950 to750. Target upside is up to 1400 to 1600. This is my personal view I am not sebi register advisor. Before taking any decision please take expert advise. This is my personal view and for educational purpose. Don’t take any investment decision on this post.
Trade ideas
TATA STEEL (SHORT)Be cautious while trading in TATA STEEL. If you are holding keep Strick SL at 1215. its following a downtrend now only buy above 1542 level.
Sell below 1215.
Buy above 1542 only.
keep tgt 1:3 in both
SL: Tgt = 1:3
stock P/E is also high
stock is in overbought condition due to suddent steel demand in the market in last few months.
cooling down may happen in this stock.
if holding keep strict SL. if planning to buy wait for Breakout above 1542.
Greate opportunity in Tata steels.So here is the 1 day chart of Tata Steel ,as you all can see it creates a head and shoulders pattern and give a breakdown, now it is coming back for retest.
So in this case we have two opportunities
1- if it breakout the neckline and crosses it the next target would be 1470 which is its previous shoulder and if it even breakout shoulder the next Target is 1530 which is head.
2- the second possibility is that if it can't cross the neckline and reverse back than this is the sign of selling pressure and for this scenario we have target of 1250.
From my observation there are higher chances of downtrend,but we have to aware of both opportunities
🙏🏿
Thanks and regards
Ankit Mathela
Keep trading 🔥
Short with Risk of 1% and RR of 1:2Short with Risk of 1% and RR of 1:2
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NOTE: You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk."






















