Sunday, 7 November 2021

Tatasteel latest news

10 factors traders should know about Tata steel share pric

I trade and invest in Tata steel as this is also a high beta sector like banks.

Let's check news and facts before we trade and invest in the new year

  1. Tata steel share price gave more than 200 % return in last one year.
  2. The company exported 9,000 tones of LD slag to Bangladesh. This is the first such shipment from India to the neighboring country.
  3. Its revenue has grown at a yearly rate of 7.61%, vs industry average of 8.94%
  4. Tisco market share decreased from 32.86% to 31.55%
  5. Brokers upgraded recommendation or target price in the past three months
  6. Strong annual EPS growth
  7. Tata Steel rating raised to 'BBB-' on a reassessment of group support: S&P. source tatasteel share  
  8. FII/FPI increased their stakes in the company
  9. Nifty metal took support on 10 DMA and AVWAP levels in the daily time frame. In the weekly time frame, Tisco took support at the convergence of 10 DMA, 20 DMA, and weekly AVWAP. 
  10. The result announcement date is 11th November. 

Tata steel share price analysis


As per the chart, Tata steel is consolidating within a triangle pattern. 
I will go long once it trades above 1380 for an hour or so. 
This will be an ideal candidate to short below 1220. 

Tata steel option chain and IV chart

Tatasteel max pain is 1320 as par option chain.

Price is consolidating between 1300 and 1400 since mid-September.  Its open interest and volume also decreased from the 1st week of August level. The stock did not break the previous high of 1250 made on 11th Mat'21

Tata steel IV chart

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Disclaimer: This is my personal view for learning and journaling purposes. Any thought will be appreciated.

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