TATASTEEL
We are going to see a weekly chart of TATASTEEL and there is nothing much to explain here about trend. If one can look at moving average it’s clearly indicating an uptrend. Only concerned for TATASTEEL was consolidation/Profit Booking we have seen from 10th May 2021 after making lifetime high of 1218.
In last week Tata steel did show good bullish trend and taken out previous Lifetime high of 1218, week has closed near its high without any major wick for weekly candle, also, we have seen descent volume to this weekly candle which means good efforts for breakout.
So, what is next In TATASTEEL? Well as per overall price structure we should see continuation of bullish trend in Tata steel with some pauses in between. As far as next targets are concerned we can prefer to Fib Extensions which are plotted on weekly chart of TATASTEEL.
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