Tata Steel: Showing signs of strength
Обновлено
Tata Steel
In my previous take I had suggested a Call short position given the set up at that time being bearish. That strategy played out well...
Now the stock is at same level, however, In the current set up,
- the stock is trading above 21 day EMA and 63 day EMA
- the stock has tested the time and so far is managing to stay above the May 2022 low
The stock is showing signs of strength.
- Once above 252 day EMA which is currently around 107, the stock can potentially move towards 113 / 118 / 122 (Time looks ripe for the stock to retest the red line of Resistance
Pattern gets invalidated if closing below the green line on weekly closing basis or for 3 consecutive days.
Take care & safe trading..!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
In my previous take I had suggested a Call short position given the set up at that time being bearish. That strategy played out well...
Now the stock is at same level, however, In the current set up,
- the stock is trading above 21 day EMA and 63 day EMA
- the stock has tested the time and so far is managing to stay above the May 2022 low
The stock is showing signs of strength.
- Once above 252 day EMA which is currently around 107, the stock can potentially move towards 113 / 118 / 122 (Time looks ripe for the stock to retest the red line of Resistance
Pattern gets invalidated if closing below the green line on weekly closing basis or for 3 consecutive days.
Take care & safe trading..!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Комментарий
Consider to book profits as per risk appetite or trail SL at 113
Take care and safe trading...!!!
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.