Tata Steel Ltd (NSE) – Simple Technical Analysis

Price Action:
The stock appears to have been in a downtrend within a descending channel.
Recently, the price is attempting to break out from this channel.

Support & Resistance (Pivot Points - Fibonacci Levels):
The current price is ₹138.82.
Immediate resistance: Near ₹145 - ₹150 (Pivot R1).
Major resistance: ₹183.80 (Potential upside target).
Support levels: ₹109 (S1) and lower Fibonacci pivot levels.


Technical Indicators:
MACD (Moving Average Convergence Divergence):
The MACD (blue line) is trying to cross above the Signal Line (orange line).
Histogram is reducing negative momentum, indicating a potential bullish crossover.

Trend Breakout Potential:
If the stock sustains above the descending channel, a bullish breakout towards ₹183 could be expected.

Risk-Reward Analysis:
Upside Target: ₹183 (about 32% gain from current price).
Downside Risk: ₹109 (about 21% loss from current price).
Risk-Reward Ratio: ~1.5 (favorable for long position).

Prediction & Trading Strategy:
Bullish Scenario:
If price holds above ₹140 and breaks resistance at ₹150, we can expect an upside move towards ₹183.
The MACD crossover confirms strength in price momentum.

Bearish Scenario:
If the stock fails to hold above ₹130 and re-enters the descending channel, it might revisit ₹109 or lower.

Entry & Stop Loss:
Entry: ₹140-145 (after confirming breakout).
Stop Loss: Below ₹130.
Target: ₹183.


Conclusion:
Bullish bias if breakout holds.
Wait for confirmation above ₹140-145 for a strong move.
If rejected at resistance, a drop towards ₹109 is possible.