Multi Year Breakout in Tata Power
Updated
After 2018 Tata Power has given a good breakout and pulled back to it's support and continued it's upside direction.
Even after a good Upside move it broke out of the 56-58 zone but this breakout turned out to be failure.
After being stuck in a Good 70 Day Range, It has broken out of that range with a good volumes and again pulled back to the support with volumes on the lower side.
70 Day Range = 50-57
CMP = 58.1
Entry can be taken here at 58 with an SL at 50-50.2.
I will post the Weekly chart in the update below for better clarity.
Even after a good Upside move it broke out of the 56-58 zone but this breakout turned out to be failure.
After being stuck in a Good 70 Day Range, It has broken out of that range with a good volumes and again pulled back to the support with volumes on the lower side.
70 Day Range = 50-57
CMP = 58.1
Entry can be taken here at 58 with an SL at 50-50.2.
I will post the Weekly chart in the update below for better clarity.
Note
CMP 69
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