TATA POWER trend line channel
TATA Power has already achieved the adjusted target as per flag pattern, if we apply flag pattern as per book rules then 567 is the target which is yet to come.
TATA POWER is travelling in the channel drawn, as per that if it crosses current LTH of 464 then it can reach to 480-490 and then again make a down move towards the bottom line of the channel which can be 425-430.
As the election result date is also approaching so we can also see a channel breakout depending on result euphoria.
If it fails to cross 464 then it can make a down move towards channel bottom line with target of 416, until 497 is protected TATAP is in uptrend.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
TATA POWER is travelling in the channel drawn, as per that if it crosses current LTH of 464 then it can reach to 480-490 and then again make a down move towards the bottom line of the channel which can be 425-430.
As the election result date is also approaching so we can also see a channel breakout depending on result euphoria.
If it fails to cross 464 then it can make a down move towards channel bottom line with target of 416, until 497 is protected TATAP is in uptrend.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
* If it fails to cross 464 then it can make a down move towards channel bottom line with target of 416, until 397 is protected TATAP is in uptrend.
480-490 is on radar now......