Harshit_bhadoriya

TATA POWER,SYMMETRICAL TRIANGLE & BULLISH FLAG PATTERN BREAKOUT!

Long
NSE:TATAPOWER   TATA POWER CO LTD

One can start with simple patterns identification. on the 30min time frame. Symmetrical triangle has given upward bullish break out with good volume . Then stock faced the resistance at the level of 114 (highlighted with red line). Then stock formed flag pattern , then again stock has given bullish flag pattern breakout. then again stock faced the resistance at the level of 114. This is very strong resistance level . once it cross this level, this will work as very strong support level for this stock.
''PAPER TRDAE ONLY FOR LEARING PURPOSE''
CASH TRADE
BUY- 112-115
STOP- 110
TARGET- 120

MAR FUT TRADE
BUY- 113
STOP- 107
TARGET- 120

115 CALL OPTION
BUY- 4.85
STOP- 3
TARGET- 10

DISCLAIMER: THIS IS ONLY FOR THE EDUCATIONAL PURPOSE, KINDLY DO YOUR OWN ANALSIS BEFORE INITIATION OF ANY TRADE. NOTHING IN THIS ANALYSIS IS A RECOMMENDATION TO BUY OR SELL STOCKS OR FUTURES OR OPTIONS. CONSULT YOUR FINANCIAL ADVISOR PRIOR TO INVESTING IN STOCK MARKET.
KINDLY LEAVE YOUR LIKE AND COMMENTS.
THANK YOU.
HAPPY TRADING.