February 12, 2019 / 6:17 AM / in 7 days

BUZZ-India's Tata Steel hits over 1-month high; chart suggests more upside

** Shares of Tata Steel Ltd gain as much as 3.08 pct to 495.5 rupees, their highest since Jan 9

** Stock breaks above a resistance at 490 rupees, the 23.6 pct Fibonacci retracement level on the downtrend from Sept 21, 2018 high to Jan 29, 2019 low tmsnrt.rs/2E3PL92

** Stock also breaks above its 50-day exponential moving average, seen as a bullish sign

** Breakout suggests, stock may now move up to the next resistance at 520.15 rupees, the 38.2 pct retracement level

** Stock’s 5-day average volume is 42.7 pct higher than its 30-day average, which suggests, breakout is supported by volume

** MACD is above its signal line, seen favourable

** Stock down 29.86 pct in the last one year, as of Monday’s close, while the broader NSE Index gained 4.15 pct in the same period

Reporting by Gaurav Dogra

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below