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.
For all the basic stuff that I am using in this post, you will have to visit the following idea. This post is in continuation of SBI weekly divergence study..
Overbought -- OB
Oversold -- OS
Divergence -- Div
B-- Div after OB at A
C-- Double top...
based on over bot concept
looking for profit booking from here
rsi - 84 + = overbot
lower volume candles
note - risk based view
since there is still somewhere momentum towards bullish side
disclaimer - trade @ own risk
Amber enterprises showed a breakout yesterday and many buyers entered here because of the breakout
But do you know it's a false breakout?
yellow-both acting as support and resistance.
Guys please first like and comment...
SWING TRADE IN ACC CEMENT(CONDITIONAL)
RANGE BREAK-OUT POSSIBLE
ASCENDING TRIANGLE WITH HIGHER LOW FORMATION
BUY@1651-55(ABOVE 1650 ON CLOSING BASIS)