The chart exhibits a Cup and Handle pattern on Tata Steel’s daily timeframe.
1. Pattern structure:
Cup: Formed from Nov to early Jan, with a rounded decline and recovery, creating the “U” shape.
Handle: A tighter consolidation from mid‑Jan to Feb, retracing ~10–15% of the cup’s advance, which is typical for a healthy handle.
2. Breakout:
The price has pierced the handle’s resistance (≈₹178) with decent volume (26 M shares), confirming the bullish signal.
The breakout candle is relatively strong, suggesting momentum behind the move.
3. Volume analysis:
Volume spikes during the cup’s formation and at the breakout, indicating institutional interest.
Handle volume is lower, showing reduced selling pressure and consolidation.
4. Target calculation:
Measured move: The depth of the cup (≈₹26.05) is projected upward from the breakout point, giving a target of ₹212 (13.93% upside).
Intermediate target: +₹9.32 (4.99%) to ₹197, often hit first in a gradual climb.
5. Support & resistance:
Immediate support now lies at the handle’s base (≈₹168–172).
Strong resistance is the previous high near ₹212.
6. Trading considerations:
Entry: Confirm close above ₹178 with volume > average; enter long.
Stop‑loss: Place below the handle’s low (≈₹168) to limit risk.
Position sizing: Allocate based on risk tolerance and the ~13% target upside.
1. Pattern structure:
Cup: Formed from Nov to early Jan, with a rounded decline and recovery, creating the “U” shape.
Handle: A tighter consolidation from mid‑Jan to Feb, retracing ~10–15% of the cup’s advance, which is typical for a healthy handle.
2. Breakout:
The price has pierced the handle’s resistance (≈₹178) with decent volume (26 M shares), confirming the bullish signal.
The breakout candle is relatively strong, suggesting momentum behind the move.
3. Volume analysis:
Volume spikes during the cup’s formation and at the breakout, indicating institutional interest.
Handle volume is lower, showing reduced selling pressure and consolidation.
4. Target calculation:
Measured move: The depth of the cup (≈₹26.05) is projected upward from the breakout point, giving a target of ₹212 (13.93% upside).
Intermediate target: +₹9.32 (4.99%) to ₹197, often hit first in a gradual climb.
5. Support & resistance:
Immediate support now lies at the handle’s base (≈₹168–172).
Strong resistance is the previous high near ₹212.
6. Trading considerations:
Entry: Confirm close above ₹178 with volume > average; enter long.
Stop‑loss: Place below the handle’s low (≈₹168) to limit risk.
Position sizing: Allocate based on risk tolerance and the ~13% target upside.
Dagangan aktif
Intermediate target: +₹9.32 (4.99%) to ₹197 has reached as of now during the mid session of 29th January . partial profit can be booked and can trail further for next target as mentioned above .Nota
Approaching near 2nd targetDagangan ditutup: sasaran tercapai
Target reached . trail stop loss 
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.