🌟 Tata Steel: 🌟
Why stock is falling?📉
Fundamental Reasoning :💡
❧ Benchmark Index NiftyMetal is currently at 5476.25 from its 52-week high of 6825.65.📈
❧ The economic slowdown in China impacts the input material costs and affects margins.📉
❧ Dollar Index is nearing to a 20 year record high.📈
❧ Supply and demand fluctuation is one of the concern in the metal industry.
❧ China being the leading consumer, slowdown lead to reduction in the overall demand.📊
Recent results Highlights:📊
❧ Stock seen a 47% rise in the net profit YOY.📉
❧ With increase of 38% in revenur from operations.
❧ Co
❧ Company achived highest ever annual crude steel production from indian operations.
❧ Company announced a dividend of Rs.51 per share
❧ Board of the company announced a stock split in the ratio 10:1
Technical:📉
❧ Chart structure looks weak with stock moving near to its important support zone 1080-1090.
❧ It can be seen that stock took multiple support from the same levels hence it will act as a crucial support.
❧ Existing stock holders may hold it with stop loss below the support zone
❧ Short selling opportunity can be executed post breakage of the support.
❧ 200 EMA levels are key levels to watch in the next couple of weeks before initiating long positions.
❧ RSI below 40 signals the weakness in the stock.
Disclaimer: The information mentioned above is only for educational purpose.. Kindly contact your financial advisor before trading/investing 💰
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