Tata Power is currently trading under its 50 DMA after a sell off in Indian Markets this week. The fact that they have dropped their solar power deal with Petronas did not help the situation.
Price breaks the overall bottom trendline (bold blue) with above average volumes.
Target price can be set at ~86.40, with a stop loss at 94.
SWING TRADE IN ACC CEMENT(CONDITIONAL)
RANGE BREAK-OUT POSSIBLE
ASCENDING TRIANGLE WITH HIGHER LOW FORMATION
BUY@1651-55(ABOVE 1650 ON CLOSING BASIS)