Tata Power - Looking good for breakout!
Updated
The stock in long term consolidation phase but set up look positive for near term breakout.
Weekly Chart- The price consolidating in channel since Oct’21 and pole & flag pattern clearly visible in chart. The flag breakout will generate a significate return on long term basis, approx.to pole distance i.e., 55%.
Daily Chart – The breakout with bullish candle & volume and 20 ema continuously supporting the price at lower level.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Weekly Chart- The price consolidating in channel since Oct’21 and pole & flag pattern clearly visible in chart. The flag breakout will generate a significate return on long term basis, approx.to pole distance i.e., 55%.
Daily Chart – The breakout with bullish candle & volume and 20 ema continuously supporting the price at lower level.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Note
price closed below ema 20 and support trendline.Be cautious !!
Trade closed manually
Close the trade (if any) as per price action.Stop loss below RS 213 !!
Note
Trade active
Note
momentum !!Trade closed: target reached
target 1 achieved !!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.