TATA STEEL1/ Volume confluece and 200 EMA at persent levels
2. Been consolidating as per Volumes .
3. Target 1 and 2 and indicated .
4.F&O data suggests Long Buildup today
97.76% away from 52 week low
23.19% away from 52 week high
1 Month: Delivery volume fell by -53.06%
1 Day: Delivery volume increased by 32.55% over 5 day average
5 .Current price is less than the intrinsic value
like if you agree
TATASTEEL trade ideas
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TATASTEELNSE:TATASTEEL
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BULLISH ON TATA STEEL LTD.NSE:TATASTEEL
currently taking good support and shows bullish reversal . and also there is common pattern which this stock shows earlier also as after taking support on Simple Moving Average 44 , show bullish trend in a WEEKLY time frame.
IT CAN BE A GOOD TRADE.
Do your own analysis before investing.
TATA STEEL- Price Action Analysis Metal Sector NSE:CNXMETAL already seems negative and international CAPITALCOM:COPPER has also beaten down from new corona virus concern.
It is undoubtable that NSE:TATASTEEL shows bearishness from past 3 week and nearest at PRZ (prize reversal zone) which comes from Harmonic Bullish butterfly pattern 1.272 level at price 1025 but still sentiments are negative so any reversal candle from level 1015- 1075 will provide good opportunity for buy.
meanwhile 1000 is psychological level any closing below this make create further downside momentum.
BUY : safe traders can buy above 1000 as with the range 1015-1075 with confirmation of reversal candle.
SELL : sell opportunity only comes when price reject from 1198-1229 at upper zone or if it finally closing below 1000.
NOTE : try for the small swing up to dynamic trendline although breaking this bearish dynamic trend line and closing above only hope for Bullishness.