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iitiantradingsage

Hedging opportunity (bullish spread) in TATASTEEL

Long
TATA STEEL LTD (NSE:TATASTEEL)  
iitiantradingsage Updated   
NSE:TATASTEEL   TATA STEEL LTD
Flag Volume Beyond Technical Analysis Bullish Flag tatasteel bullishspread
8
0
flagpattern volumestudies beyondta bullishflag tatasteel bullishspread
It seems like TATASTEEL is going through accumulation phase, ready for a big move. There is a strong support at 1250 so breakdown of that level will not be easy. if the desired move come then 1500 will be a easy target.
Reasons behind this speculation
  • bullish flag pattern follow by W-shaped (modified head and shoulder pattern) recovery
  • Metal prices have shot up in past one month. cool off period will be a boost for the Steel industry
  • Big volume in bullish candles compared to bearish ones indicating less profit booking/long covering compared to long-build up.
TATASTEEL
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