Mandu010

Multi Year Breakout in Tata Power

Long
NSE:TATAPOWER   TATA POWER CO LTD
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.

Comment: CMP 69