A TECHNICAL VIEW ON TATA STEEL LTD-27.11.2020

 

TATA STEEL LTD

Open-570--High-582.35--Low-563.05—Close-574.90 on 27.11.2020

Support:568.25/561.65/553.50/538/518.60/506/455.

Resistance:579.85/610.60/636.80/647.60/671.90/683.50/713.90/739/793/846/925.50/935/957/961.45.

All Time High:--961.45 Made on 26.10.2007.

Recent High: - 793 Made on 15.1.2018.

Recent Low :--250.85 Made on 30.3.2020.

 (Bold and underlined figures are most important)

Technically it is on a strong footing on daily, weekly and monthly chart as of now and already in robust up momentum which indicates that further big rise may be ahead in coming days/months if market conditions remain conducive and off course with intermittent down correction. Please note that it could correct any time soon as it has had a vertical rise from 395 to 581.95 intraday, but the bias is hugely bullish therefore it should be bought into on decline  but not below 538(this figure will move up with stock price rise) and then below 503.80(this figure will move up with stock price rise), because sustained close below 538 will push it into medium term correction mode and sustained close below 503.80 can push it into long term correction mode and can potentially threaten the uptrend also. But looking at the overall technical setup now deep correction is less likely, therefore it is expected that when it corrects that will be a short correction and it may resume the up move again. Moving up it will face stiff resistance and the broad resistance points would be at 586---606---647.60---665---690---739---793---820. Similarly moving down its major key points are at 568.25---553.50---538---503.80(last figure will change with new upside movement in the price). In view of the above observation one should exit long trade if it sustain below 503.80 as of now (this figure will move up with fresh upside movement in stock price) on the closing basis.

The investment time horizon is 12-15 months and if it respects its key points on the downside then the possible upside target could be 740---800 or may be more. Please note that you can structure your trade or investment with the help of above mentioned support and resistance points.

 It is strongly suggested to trail your stop losses (with the help of support levels mentioned above) in the profitable trade to avoid losses completely. PLEASE NOTE THAT IT IS PURELY A TECHNICAL CALL. DO NOT TRADE OR INVEST WITHOUT STOP LOSS.

NOTE: - It is the technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

TRADING CALLS FOR---15--11--2017

TRADING CALLS FOR 22-12-2016

TRADING CALLS

1. ACC.

Sell below -1295, S/L-1305, Target-1284/1272/1269/1256.

2. ASHOK LEYLAND.

Sell below -77.30, S/L-78.50, Target-76.55/76.05/74.85/74.30/73.50.                                            

                                    

3. GLENMARK PHARMA.

Sell below -937, S/L-942, Target-927/923/910/896/887.

                             

4. HCL TECH.

Sell below -815, S/L-822, Target-796/793/790/783/771.

5. HERO MOTOR CORP.

Sell below-3015, S/L-3023, Target-2973/2962/2933.

6. INFOSYS.

Sell below-998, S/L-1005, Target-898/965/958/945/930.

7. L & T.

Sell below -1340, S/L-1346, Target-1336/1304/1295/1236.     

8. TATA MOTORS.

Sell below -467, S/L-470, Target-462/451/443/432.

9. TCS.

Sell below -2305, S/L-2316, Target-2287/2252/2242/2202.

10. TATA STEEL.

Sell below -401, S/L-404, Target-398/391/383/377.

Note: Price stated here is of spot market.

  

                              

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Contact me for strategic guidance to enter and exit the trade

TRADING CALLS FOR 21-12-2016

TRADING CALLS

1. APOLLO HOSPITAL.

Sell below -1176, S/L-1182, Target-1155/1150/1142/1130.

2. ASHOK LEYLAND.

Sell below -76.50, S/L-77.50, Target-76.05/74.85/74.30/73.50.                                            

                                   

3. AUROBINDO PHARMA.

Sell below -669, S/L-675, Target-645/620/604/601/582.

                             

4. BAJAJ AUTO.

Sell below -2575, S/L-2588, Target-2550/2532/2510.

5. BANK OF BARODA.

Sell below-155, S/L-156.50, Target-152.40/150/141.30.

6. ICICI BANK.

Sell below-250.25, S/L-251.75, Target-245/243/239/236.65/221.

7. IDEA CELLULAR.

Sell below -73, S/L-73.80, Target-71.05/69.10/65.80.     

8. LUPIN.

Sell below -1442, S/L-1452, Target-1435/1415/1395/1390/1382.

9. MOTHERSON SUMI.

Sell below -318, S/L-323, Target-315.50/304.50/299.70/285.

10. TATA STEEL.

Sell below -401, S/L-404, Target-398/383/377.

Note: Price stated here is of spot market.

                                 

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Contact me for strategic guidance to enter and exit the trade

TRADING CALLS FOR 19-12-2016

TRADING CALLS

1. ASIAN PAINTS.

Sell below -895, S/L-908, Target-869/856/841/826/816.

                                      

2. BAJAJ AUTO.

Sell below -2649, S/L-2665, Target-2628/2603/2550/2510.

3. DR.REDDYS LAB.

Sell below -3101, S/L-3124, Target-3075/3066/3012.

4. HCL TECH.

Sell below -815, S/L-826, Target-796/790/785.781/771.

                              

5. HERO MOTOR CORP.

Sell below-3116, S/L-3130, Target-3074/3040/3028/2988.

6. TATA STEEL.

Sell below -412.50, S/L-416, Target-408/404/402/398/383.

Note: Price stated here is of spot market.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Contact me for strategic guidance to enter and exit the trade

DAY TRADING CALLS FOR 30-6-2016

TRADING CALLS

1. ACC

Sell below -1591, S/L-1599, Target-1585/1564/1553.

2. ASIAN PAINTS.

Buy above-997, S/L-993, Target-1004/1015/1029.

3. HERO MOTOR.

Buy above-3165, S/L-3155, Target-3179/3211/3241.

4.  L&T.

Sell below -1477, S/L-1484, Target-1468/1460/1455/1441/1401.

5.  LIC HOUSING FINANCE .

Sell below -488.75, S/L-491, Target-483/474/470/465.

6.  TATA MOTORS.

Sell below -445, S/L-448, Target-436.70/433.

                                        OR

Buy above 450.S/L-446,Target-457.25/468.

7.  TATA STEEL.

Sell below -312.60, S/L-314, Target-311.25/308/307/297.

NOTE: - DAY TRADING CALL DOES NOT INDICATE OVERALL TREND OF THE STOCK. WATCH THE MARKET    FOR 10-15 MINUTES BEFORE INTIATING TRADE.

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Contact me for strategic guidance to enter and exit the trade

DAY TRADING CALLS FOR 20-6-2016

 TRADING CALLS

1. APOLLO HOSPITAL.

Sell below -1290, S/L-1296, Target-1280/1242/1213/1195.

2. AUROBINDO PHARMA.

Buy above -728, S/L-723.50, Target-735/746/757.

OR

Sell below 724,S/L-728,Target712.50/708.70/696.

3. AXIS BANK.

Sell below -524.70, S/L-527, Target-516/509/506.

4. BHARTI AIRTEL.

Buy above -359, S/L-356.75, Target-369/377.

5. BHARAT ELECTRONICS.

Sell below -1255, S/L-1260, Target-1246/1230/1210.

6. BRITANIA.

Sell below -2636, S/L-2642, Target-2607/2588/2545/2519.

7. COLGATE.

Sell below -850, S/L-856, Target-847/835/830/821.

8. DLF.

Buy above -136, S/L-134.25, Target-138.15/143/145.20.

9. DIVIS LAB

Buy above -1119, S/L-1113, Target-1127/1140/1148/1152/1165.

10. DR.REDDYS LAB.

Sell below -2999, S/L-3010, Target-2970/2956/2951/2887.

11  HCL TECH.

Buy above -755, S/L-752, Target-763.70/765/785/796.

12  PIDILITE IND.

Sell below -699, S/L-705, Target-690/688/682/675.

13. SHRIRAM TRANSPORT FINANCE.

Sell below -1134.80, S/L-1172, Target-1114/1107/1077.

14.  SUN PHARMA.

Sell below -740, S/L-745, Target-733/731/721/710.

15.  TATA MOTORS.

Buy above -466, S/L-463.50, Target-470.25/480/491.

16. TATA STEEL.

Sell below-323.80, S/L-325.60, Target-321/318/311/308.30.

                                        

17.  TCS.

Buy above -2610, S/L-2600, Target-2626/2639/2658.

                                        

 NOTE: - DAY TRADING CALL DOES NOT INDICATE OVERALL TREND OF THE STOCK. WATCH THE MARKET FOR 10-15 MINUTES BEFORE INiTIATING TRADE.

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Contact me for strategic guidance to enter and exit the trade

DAY TRADING CALLS FOR 14-6-2016

 TRADING CALLS

1.  AMBUJA CEMENTS.

Buy above -238.80, S/L-237, Target-245/254.

2. APOLLO HOSPITAL.

Sell below -1311, S/L-1320, Target-1290/1280/1250.

3. AUROBINDO PHARMA.

Buy above -753, S/L-749, Target-760/771/776/786.

4. ASIAN PAINTS

Buy above -997, S/L-994, Target-1004/1019/1029.

5. ICICI BANK.

Sell below -243, S/L-245, Target-237.60/232.90/226/219.60.

6.  KOTAK MAHINDRA BANK.

Buy above -757.50, S/L-754, Target-762/770/775/779.

7.  SUN PHARMA.

Buy above -750, S/L-746, Target-758.50/771/775/783.

8. TATA STEEL.

Sell below-321, S/L-323.50, Target-318/311/308.30.

                                        

                                        

 NOTE: - DAY TRADING CALL DOES NOT INDICATE OVERALL TREND OF THE STOCK

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Contact me for strategic guidance to enter and exit the trade

DAY TRADING CALLS FOR 13-6-2016

TRADING CALLS

1.  ACC.

Buy above -1564, S/L-1558, Target-1590/1604/1626.

2.  AMBUJA CEMENTS.

Buy above -236, S/L-234, Target-240/254.

3. APOLLO HOSPITAL.

Sell below -1340, S/L-1350, Target-1322/1311/1290.

4. AUROBINDO PHARMA.

Sell below -736, S/L-744, Target-720/712/708/696.

5. ASIAN PAINTS

Sell below -989, S/L-995, Target-978/962/941.

6. AXIS BANK.

Sell below-538, S/L-542, Target-530/526/518.

7. COAL INDIA.

Sell below-306, S/L-307.50, Target-304/296/287.

8. ICICI BANK.

Sell below -251.50, S/L-253.50, Target-244/242/237.60.

  

9. MARUTI SUZUKI.

Sell below-4100, S/L-4115, Target-4054/4027/4000.

10. S.B.I.

 Sell below-205, S/L-206.50, Target-202/198.50/195.

11. TATA MOTORS.

Sell below -454.50, S/L-457.50, Target-450/444/432.

12. TATA STEEL.

Sell below-332, S/L-335, Target-330/326/321/311.

                                     

13. TCS.

Sell below-2553, S/L-2560, Target-2500/2460.

                                        

 NOTE: - DAY TRADING CALL DOES NOT INDICATE OVERALL TREND OF THE STOCK

Note: Price stated here is of spot market.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Contact me for strategic guidance to enter and exit the trade