TATA POWER ON 30 MINS CHART

Tata power is trading in downtrend. After a good double bottom pattern, TATA POWER did try to move upward but if we look at the retracement levels using Fibonacci, we can observe that stock has not yet broken the golden level of 61.8%. There also a possible HEAD & SHOULDER reversal pattern but we believe that can be a fake pattern formation because as stock is approaching towards FIBONACCI 61.8% level, buyers are getting weak. As this is 30 mins chart we believe TATA POWER can end up in a range bound market for upcoming week. Trade safe