📈 Tata Steel - Trading Plan
🎯 Trade Setup:
🔹 Entry: ₹159 (Preferably on a daily closing basis)
🔹 Stop Loss (SL): ₹145 (Daily closing basis) (-8.81%)
🔹 Target 1: ₹184 (+15.72%)
🔹 Risk-to-Reward (R:R): 1:1.78
📊 Why This Stock?
✅ Above 50 DMA & Consolidating Above 200 DMA – Signs of strength after prolonged weakness.
✅ Gap Up & Trading Near Resistance – Potential breakout opportunity if volume supports.
✅ Metal Index Breakout – Recently broke out of a base, trading just below 200 DMA.
✅ Weekly Candles Showing Strength – Wide-range candles indicate demand.
✅ Improving RSI – Momentum gaining strength.
⚠️ Risks to Consider
❌ Overall Trend Still Bearish – Market structure remains Lower Highs, Lower Lows.
❌ Metal Index Below 200 DMA – A strong close above it adds more conviction.
❌ Volume Needs Improvement – A breakout without volume can be weak.
📌 Safe Trading Approach
🔹 Ultra Safe Traders: Wait for a weekly close above ₹159.
🔹 Confirmation Traders: Enter only after Metal Index closes above 200 DMA with volume.
🔹 Breakout Traders: Ensure a clean breakout with strong volume before entry.
📢 Disclaimer: This is not a trade recommendation. Please do your own due diligence and manage your risk accordingly. 🚀
🎯 Trade Setup:
🔹 Entry: ₹159 (Preferably on a daily closing basis)
🔹 Stop Loss (SL): ₹145 (Daily closing basis) (-8.81%)
🔹 Target 1: ₹184 (+15.72%)
🔹 Risk-to-Reward (R:R): 1:1.78
📊 Why This Stock?
✅ Above 50 DMA & Consolidating Above 200 DMA – Signs of strength after prolonged weakness.
✅ Gap Up & Trading Near Resistance – Potential breakout opportunity if volume supports.
✅ Metal Index Breakout – Recently broke out of a base, trading just below 200 DMA.
✅ Weekly Candles Showing Strength – Wide-range candles indicate demand.
✅ Improving RSI – Momentum gaining strength.
⚠️ Risks to Consider
❌ Overall Trend Still Bearish – Market structure remains Lower Highs, Lower Lows.
❌ Metal Index Below 200 DMA – A strong close above it adds more conviction.
❌ Volume Needs Improvement – A breakout without volume can be weak.
📌 Safe Trading Approach
🔹 Ultra Safe Traders: Wait for a weekly close above ₹159.
🔹 Confirmation Traders: Enter only after Metal Index closes above 200 DMA with volume.
🔹 Breakout Traders: Ensure a clean breakout with strong volume before entry.
📢 Disclaimer: This is not a trade recommendation. Please do your own due diligence and manage your risk accordingly. 🚀
Penerbitan berkaitan
Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.