TATA steel Long term analysis

1 Eki

Tata Steel has shown a significant technical breakout, successfully crossing a strong resistance level. The stock has already made an impressive 7% move, indicating strong momentum.
While the current price action suggests potential for further upside, with a possible target of 184, investors should consider their time horizons:
Long-term perspective:

Entry at current levels could be justified for those with a long-term investment horizon.
The breakout and strong momentum support a bullish long-term outlook.

Short-term trading opportunity:

For short-term traders, an entry at current levels could be considered.
A prudent stop-loss could be placed at 162 to manage risk.
This allows for participating in potential further upside while protecting against unexpected reversals.

As always, traders and investors should conduct their own due diligence and consider their risk tolerance before making any investment decisions. Market conditions can change rapidly, and past performance doesn't guarantee future results.