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By EquityPandit

MARKET OUTLOOKSTOCK OUTLOOKTATASTEEL

Tata Steel Outlook for the Week (May 20, 2024 – May 24, 2024)

Tata Steel
Tata Steel
Tata Steel closed the previous week on a negative note losing 6.17%.

Technically, Tata Steel share price will see immediate support at 160.78 and immediate resistance would be seen at 171.18.

If Tata Steel share price closes below immediate support of 160.78, then sharp breakdown can be seen. Tata Steel share price will see major support at 154.22 for the week.

172.00172.00170.00170.00168.00168.00166.00166.00164.00164.00162.00162.00160.00160.00158.00158.00156.00156.00Apr 3Apr 3Apr 8Apr 8Apr 12Apr 12Apr 18Apr 18Apr 23Apr 23Apr 26Apr 26May 2May 2May 7May 7May 10May 10May 15May 15Reversal Level 162.76BuyBuySellSell

On the positive side, immediate resistance will be seen at 171.18. Closing above 171.18, Tata Steel share price will see a sharp breakout. Major resistance for Tata Steel share price will be seen at 175.02 for the week.

Trading range for Tata Steel share price for this week should be between 150.38 on down side and 181.58 on up side.

Tata Steel Previous Week High: 168.45

Tata Steel Previous Week Low: 158.05

Tata Steel Previous Week Range: 10.4 Points

Tata Steel share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type Value
Resistance 3 181.58
Resistance 2 175.02
Resistance 1 171.18
Support 1 160.78
Support 2 154.22
Support 3 150.38
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