TATASTEEL:NSE BULLISHFlagBO ATHRBC2Y-7M onDTF/WTF/MTF Positional

10月5日

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