Break out from the consolidation phase
Break out from the consolidation phase
TATASTEEL l was trading between the range of 138 and 146 for the past two weeks.
Today, it has given its closing above the resistance level of 146 and also above the 200 moving average.
The stock price faced resistance from the 200 moving average on the 7th and 8th of May.
After an uptrend, the stock price started consolidating between these two levels.
Also, a crossover has been seen between h20 and 100 moving averages in the upward direction, which indicates a further rise in price
RSI 63
#TechnicalViews#SectorBreakouts#EquityResearch

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