TATA STEEL LONG
Tatat Steel on weekly chart had started H & S pattern from Dec 2021. It has completed Left Shoulder and Head and is on way to complete Right Shoulder. During this process 108 has become important Pivotal line and 3 years it is trading is between 155 to 80 range. Near Right Shoulder range has reduced to 122 to 102 (from 50% to 20%). Today it had completed Red Inverted Triangle within Right shoulder Any break above Inverted triangle will take Tata Steel to 115 (which is neckline) where it will complete H & S pattern. Above neckline Resistance could come at 120 where price meets at uptrend support and resistance line.
Conclusion.
Range could expand from 20% to 50% (102 to 155)
Above 108 H & S completion process is verified and so price could reach 115 Rs. which is neckline. Above Neckline resistance could come at 120 as it is price meeting at uptrend support resistance line. If 120 is broken on upside with volume, then 155 should be on browser.
This is weekly chart and views are taken from dec 2021 onwards i.e., 3years, targets archivable is also for long term more than 1 year. It requires lot of patients to hold for long term. %0 percent profit can be earned in 2yrs tine.
Conclusion.
Range could expand from 20% to 50% (102 to 155)
Above 108 H & S completion process is verified and so price could reach 115 Rs. which is neckline. Above Neckline resistance could come at 120 as it is price meeting at uptrend support resistance line. If 120 is broken on upside with volume, then 155 should be on browser.
This is weekly chart and views are taken from dec 2021 onwards i.e., 3years, targets archivable is also for long term more than 1 year. It requires lot of patients to hold for long term. %0 percent profit can be earned in 2yrs tine.
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