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RainbowTraders
Sep 23, 2021 5:52 PM

Tatapower: Breakout expected Long

TATA POWER CO LTDNSE

Description

Tatapower trading at crucial resistance level which was build due to four unsuccessful attempts. However the distance between near support and resistance has covered by only 3 strong bullish candles this time and that indicates a strong momentum. This signifies possible breakout from this level.

Levels:

Entry: 145
Stop Loss: 131
Target: 180

Comment

Target hit, profit booked..
Comments
prasad2837
Any further scope we have above 180
RainbowTraders
Hi @prasad2837,

As stock has gain a good momentum, it is expected that it may continue further. However looking at last 2-3 days candles and as you have ALREADY entered in position, I would say there are two good choices at this stage;

1. Keep the tight SL and still be with trend however DO NOT deviate on Risk Reward

2. Exit the position if you feel momentum is over and get busy for another opportunity.

Thank you
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