Tata Steel – Multi-Year Base Breakout Setting Up

٦ سبتمبر

Thesis
Tata Steel is testing a major resistance zone around ₹169 after consolidating in a wide range (115–170) for nearly 2 years. A decisive breakout here would mark the completion of a multi-year rounding base, opening the path to higher levels.

Technical Setup

• Structure: Multi-year consolidation / rounding base since mid-2023
  
• Breakout Level: ₹169 (tested repeatedly)
  
• Primary Target: ₹185–190 (nearest supply zone)
  
• Extended Target: ₹210–215 (measured move of base depth)
  
• RSI: ~63, rising but not overbought
  
• Volume: Needs strong confirmation to validate breakout
  
• Invalidation: Breakdown below ₹160
  

Fundamental Context

• Recent quarters show earnings recovery from cost control and safeguard duties.
  
• Valuations elevated (P/E ~46–51×), margins thin, leverage moderate.
  
• Interpretation: Fundamentals are mixed, but cyclical tailwinds and government protection provide near-term support.
  

Disclaimer
For educational purposes only. Not investment advice.

٢٣ نوفمبر

تم فتح الصفقة

Primary Target: ₹185–190 (nearest supply zone) reached.