Hello Members, This is My First Post on a Separate Blog For Indian Markets, My other blog http://fxmagician.blogspot.in is an old blog with big traffic of Visitors and Followers.
I hope this effort will help all track my updates and Trading Signals at one place and no longer need to waste time on facebook and other social Media.
Today I will be talking About TATA STEEL LIMITED ( #TATASTEEL )
Following is a Monthly Chart of the stock...
Whatever Market behaves, Most of the Bluechip Stocks behave in discipline and this is another example of a disciplined stock, My all time favorite. I like this stock for it's History and their ethics of the business.
The Stock is moving in a Triangle since a Long Period and the Triangle is Narrowing now, Their is still plenty of space left to complete the current move to the Triangle Resistance line. The Stock is rejected from the support after multiple attempts to break the support which were eventually unsuccessful and the stock started moving to the resistance on upside.
The Triangle support is placed around 200 levels, while a Horizontal support from the past lies near 194 levels.
I gave a Buy Call on this Stock around 220 levels with a Stoploss of 191 to My Equity Portfolio Clients and They all are sitting on a Huge Profit as of now. Our Targets are higher. The Stock is trading near 332 levels and The Big Triangle Resistance is Near 449 levels. which is more than 100% returns on our Invested Capital.
Take a Decision, The Stoploss for this stock was 191 level Now it is moved to 272 level, The Stock can be bought with all dips and stoploss around 272 levels with a Target of 440 in coming months.
Caution : Equity Trading can be dangerous to your portfolio, Take informed decision and consult your Investment Adviser and follow Strict Risk Management and proper Portfolio allocation to avoid any damage to your investments.
