johntradingwick

TATA POWER - Important support/resistance levels

Long
NSE:TATAPOWER   TATA POWER CO LTD
Key highlights:

- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- Being consolidating for the last 5 months.
- The parallel channel has a width of about 50 points.
- Using the measurement objective, the upside breakout target of the parallel channel lies somewhere near 305.
- The price is well above 200 MA cluster, hence the bias is positive.

Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.

Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView

Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView

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