Tata Steel on the verge of a breakout; chart suggests more upside

Tata Steel on the verge of a breakout; chart suggests more upside

  • The stock has closed around the neckline of double bottom formation, backed by strong volumes on 29th Oct 2019.
  • The stock has been continuously moving in a “lower top- lower bottom” bearish price cycle formation for nearly 2 years.

  • The major support for the stock is around 52-week low of 320 level.
  • On the indicator front, the stock have closed above the higher range of Bollinger band. Above all, On daily time-frame charts, the RSI shows a positive divergence against the price.
  • The recent developments in the stock and no immediate resistance levels are suggesting strong positive momentum in coming days.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Article Info

Published Date: October 30, 2019
Author: Valarmurugan

Stock Market Training

3 days classroom training+ 30 days online practice. Here you can learn from basics to advance concept.

Intraday Scanner

We have best in-class intraday scanner which helps you in stock selection. 

Related Terms

Do you like Videos?

We got many concepts been explained in video format. You may like it!

An investment in knowledge pays the best interest.

— Benjamin Franklin

Feel Free to Ask Us

We wish to work more closely with our community. If you want us to share our insight on trading and investing, feel free to as us.

Do you wish to invest in stock market?

Stay Informed with EQSIS Tools and Services

Stock Market Training

3 days classroom training + 30 days online practice. Here you can learn from basics to advance concept.

Intraday Scanner

We have best in-class intraday scanner which helps you in stock selection.

Follow Us

You can joins us using your prefered social network