TATA STEEL Stock Analysis

TATA STEEL Stock Analysis
TATA STEEL trading near support. Potential for significant upside. 
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by RA ALOK DAIYA SEBI Reg. INH000011468
Report as on 5th Sep 2024
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About Tata Steel and Products
Tata Steel is a multinational steel company headquartered in India. It is one of the world's leading steel producers, with a presence in over 26 countries.
The company produces a wide range of steel products, including flat steel, long steel, and specialty steel. Tata Steel's products are used in various industries, such as construction, automotive, and consumer durables.
Tata Steel is committed to sustainable development and has a strong focus on environmental and social responsibility. The company has a long history of innovation and is at the forefront of the steel industry.
Technical Analysis
1
Current Market Price
CMP at 151.00, trading near weekly support zone.
2
Stop Loss
Set EOD stop loss at 141.00.
3
Target Prices
Multiple targets: 163.00, 184.00, 208.00.
Trading Strategy
Entry
Enter near current price of 151.00.
Risk Management
Maintain stop loss at 141.00 EOD.
Profit Taking
Scale out at 163.00, 184.00, 208.00.
Disclaimer
Rationale
Support Zone
TATA STEEL is trading near its weekly support zone.
Upside Potential
This indicates a potential for significant upside movement in the short term.
Consolidation
The stock has been consolidating, meaning it has been trading in a range, but has not broken out in either direction.
Breakout
Consolidation is a common occurrence in stock markets before a strong upward or downward move.