Tata Steel: Trend Triangle and Price Channel

TATA STEEL Daily NSE Stock Chart Technical Analysis:


Tata Steel rose with the overall market today but the rise was half-hearted, there were less number of investors who were interested in this rise.

• Today's rise is unconvincing and I would not take positions in Tata Steel tomorrow morning, and wait for a trend to emerge.  
• Today a marabozu candle is formed but due to lack of overall trading interest in this rise, it doesn't seem sustainable.
• The stock price is traveling within its price channel of 578-701 since 6 months, so a break out in either direction can be enthusiastically traded.
• There is an important trend triangle and the price has attempted to return within it.  This triangle completes at 638, let's see how the stock behaves when it reaches this price point.
  
• Tata Steel आज ऊपर गया लेकिन वोल्यूम कम है इस लिए लगता नहीं है की लम्बे तक जायेगा.  वैसे भी त्रिकोण पड़ रहा है और भाव इसके इर्द गिर्द ही घूम रहा है.  अभी इस में पोसिशन नहीं लेनी चहिये जब तक कोई ट्रेंड सामने नहीं आता है.  अगर ५७८ से नीचे गिरे या ७०१ के ऊपर जाये, तो यह ब्रेक आउट ट्रेड किया जा सकता है.  

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TATA STEEL Daily NSE Stock Chart Technical Analysis