Tata steel has been forming an ascending triangle respecting support zones.
The average Relative strength of a 14 day period remains above its 50 Parameter which is an indication of a continuation to the upside, therefore our targets for the stock is Rs.120
Strong support levels are 111.20 and 112.85
Not only do we witness an ascending triangle, it is also followed by a cup and handle on the NSE which is on the verge of a breakout,
Initially needs to test the weekly 1.618% for a move up
The average Relative strength of a 14 day period remains above its 50 Parameter which is an indication of a continuation to the upside, therefore our targets for the stock is Rs.120
Strong support levels are 111.20 and 112.85
Not only do we witness an ascending triangle, it is also followed by a cup and handle on the NSE which is on the verge of a breakout,
Initially needs to test the weekly 1.618% for a move up