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Tata steel

Discussion in 'Chart of the Week' started by sujan4bw, Jul 16, 2014.

  1. sujan4bw

    sujan4bw Member

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    Hi All,

    Its a Breakout in TATA STEEL. has potential to reach 580.

    Stop loss 510.

    Rgds
    Sujan
     

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    sujan4bw, Jul 16, 2014
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  2. yankeedin

    yankeedin Responder

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    looks good, but should we call that a breakout? A bit confused.

    By the way Sujan, are you buying into it? :confused:
     
    yankeedin, Jul 16, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    Does not look good. Lower top lower bottom. Avoid.
     
    shabbir, Jul 17, 2014
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  4. hirenrachh

    hirenrachh Member

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    Dear shabbir....

    Can it be considered that it has formed a W on 17th july.
    Lower top lower.bottom.....i could not understand....pls help...

    Regarda
    Hiren
     
    hirenrachh, Jul 21, 2014
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  5. chequesuraj

    chequesuraj Member

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    i feel it's 580+ for short...

    today its volumes are on lower side...
     
    chequesuraj, Jul 21, 2014
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  6. sujan4bw

    sujan4bw Member

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    Do not short....it has got strong support in range of 513 - 525.
     
    sujan4bw, Jul 21, 2014
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  7. shabbir

    shabbir Administrator Staff Member

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    There is no pattern as such. Lower top lower bottom is violated and it has moved up.
     
    shabbir, Jul 22, 2014
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  8. sujan4bw

    sujan4bw Member

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    What a pull back in TATA STEEL today.
     
    sujan4bw, Jul 24, 2014
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  9. shabbir

    shabbir Administrator Staff Member

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    Yes great pull back.
     
    shabbir, Jul 24, 2014
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  10. chequesuraj

    chequesuraj Member

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    i agree it has support around 520 but from 580+ short position...is possible technically...

    but still it seems short from upper side now...its showing oversold signals and its hard to cross 580+...

    so make sure don't make long positions in this...

    expert comments pls...
     
    chequesuraj, Jul 24, 2014
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  11. shabbir

    shabbir Administrator Staff Member

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    The term we are using is pull back and that says it all. Pull back means up swing in a short down trend.
     
    shabbir, Jul 24, 2014
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  12. sujan4bw

    sujan4bw Member

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    Stock has consolidated right from June 16th to July 13th. Almost 20 trading sessions.

    After that there was breakout of previous high 550 on july 2nd....from there again it was in range of 550 - 571 at 550 Resistance level.

    Today I could see it turning to more bullish. It would easily cross next resistance at 580 Let me know your comments.
     

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    sujan4bw, Jul 24, 2014
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