TATASTEEL:NSE BULLISHFlagBO ATHRBC2Y-7M onDTF/WTF/MTF Positional
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TATA STEEL Technical Analysis
Chart Pattern :
TATA STEEL has recently broken its ATH of 159 forming a 2Y-7M RBC on the DTF/WTF. Currently on a Pullback to form a Handle. The Handle Bullish Flag has also been broken on WTF. ENTRY on BO of WTF High 1st Week Oct24.
INDICATORS EMA :
The Price is Currently Trading above 9/20EMA, and 20EM crossed above 50EMA recently in DTF. STOCK EMAs are currently aligned in a ascending order 200 to 20 indicating a bullish Trend on DTF/WTF.
FIBO E :
After the Bounc-back from 50% FIBO Retracement Level since a week, Price is currently trading near the 23.6% FIBO Retracement level of 168 on DTF with Impulse uptrend and ChoCH indicated at 155 on DTF
Volumes: There is a uptrend in Volume on the Weekly Charts for2 Weeks after the 12 weeks Pullback.
TRADE PLAN
ENTRY -157 or Previous WTF High BO High Price
SL -141 or Monthly Low Close Price
TARGET 01-184 (17%), TGT02-222 (41%)
Hold For a Year or TGT 2
Keep in your Priority Watch List
Disclaimer: For Education/Reference Purpose Only, Trade at your Own Risk with correct position sizing and SL. Learn/Know and Review the Stock trading Technical Terminology. Check Verify the Financial fundamentals of the Stock and Seek Advice from a Certified Financial Advisor prior to Investing. Prefer Entry with 25% quantity recommended, Add in Tranches of 25%-50% as prices moves upwards
MTFA- Multiple Time Frame Analysis
DTF -Daily Time Frame
WTF-Weekly Time Frame
MTF- Monthly Time Frame
ATH-All Time High
RBC&H-Rounding Bottom Cup/Handle
BO- Breakout Close
EMA -Exponential Moving Average
FIBO R/E -Trend based Fibonacci Retracement/Extension
SL Stop Loss
TBD- To be Decided
CHoCH- Change of Character Bullish/Bearish
BOS -Break Out Structure
SWING/POSITIONAL Trade
Chart Pattern :
TATA STEEL has recently broken its ATH of 159 forming a 2Y-7M RBC on the DTF/WTF. Currently on a Pullback to form a Handle. The Handle Bullish Flag has also been broken on WTF. ENTRY on BO of WTF High 1st Week Oct24.
INDICATORS EMA :
The Price is Currently Trading above 9/20EMA, and 20EM crossed above 50EMA recently in DTF. STOCK EMAs are currently aligned in a ascending order 200 to 20 indicating a bullish Trend on DTF/WTF.
FIBO E :
After the Bounc-back from 50% FIBO Retracement Level since a week, Price is currently trading near the 23.6% FIBO Retracement level of 168 on DTF with Impulse uptrend and ChoCH indicated at 155 on DTF
Volumes: There is a uptrend in Volume on the Weekly Charts for2 Weeks after the 12 weeks Pullback.
TRADE PLAN
ENTRY -157 or Previous WTF High BO High Price
SL -141 or Monthly Low Close Price
TARGET 01-184 (17%), TGT02-222 (41%)
Hold For a Year or TGT 2
Keep in your Priority Watch List
Disclaimer: For Education/Reference Purpose Only, Trade at your Own Risk with correct position sizing and SL. Learn/Know and Review the Stock trading Technical Terminology. Check Verify the Financial fundamentals of the Stock and Seek Advice from a Certified Financial Advisor prior to Investing. Prefer Entry with 25% quantity recommended, Add in Tranches of 25%-50% as prices moves upwards
MTFA- Multiple Time Frame Analysis
DTF -Daily Time Frame
WTF-Weekly Time Frame
MTF- Monthly Time Frame
ATH-All Time High
RBC&H-Rounding Bottom Cup/Handle
BO- Breakout Close
EMA -Exponential Moving Average
FIBO R/E -Trend based Fibonacci Retracement/Extension
SL Stop Loss
TBD- To be Decided
CHoCH- Change of Character Bullish/Bearish
BOS -Break Out Structure
SWING/POSITIONAL Trade
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TATA STEEL ENTRY ORDER IS CANCELLED, Wait for Breakout. The Steel Price Drop from China has dampened sentiments, AVOID for now...
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