AMMOy

First attempt

Long
NSE:TATAPOWER   TATA POWER CO LTD
⚠ NOT AN INVESTMENT ADVICE ⚠
Learning chart patterns, please let me know if I made any mistakes. A double bottom pattern + triangle pattern break with good volumes.
Entry - 133
Target - 148
Stop-loss - 126

Comments

I have been long in Tata Power since Rs. 51, last year. It's a good company, fundamentally and on technical charts. But this is a symmetrical triangle, not a double bottom in any way. Double bottom forms at the bottom as the name suggests. double bottom/top is a reversal pattern, it would have been bad and bearish if it was a double top. Still, keep doing it. Not bad for the first time. :)
+1 Reply
AMMOy ashoksingh774
@ashoksingh774, noted, I forgot about the trend reversal point, thank you 👍🏻
Reply
Nice Try. Stock is consolidating after C&H BO. Levels are perfect!
+1 Reply
AMMOy Equity_OptionTrader
@Equity_OptionTrader, Thank you ✌🏻
Reply
It's not a double bottom but it is surely a symmetrical triangle👍
+1 Reply
AMMOy KetanNaghera
@KetanNaghera, Noted, Thanks 👍
Reply