Power
NHPC short term viewNHPC Crossed the parallel line. MACD going to cross the mid line , RSI positive, Stochastic is in mid level in daily chart and oversold region in weekly chart. These Indicators also helps to move further.
Target range is 28.9,29.3,29.8,30.2& 31.25.
Stoploss is 27.15
Triangular Action in “Torrent Power”Outlook :
The stock has been consolidating in a range of Rs 241-210 from March 2017 till date and seen constructing a higher troughs & lower peaks forming a pattern “Symmetrical triangle” (red converging lines), which is considered to be indecisive in nature.
The said pattern generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines and a break below the lower trendline(as in our case), is a strong signal which indicates prices to move lower.
This week, the stock also broke the recent lows of 218 on the back of healthy volumes, which indicates that selling was intense and the stock looks set to continue the next leg of its downtrend.
Technical indicators are currently giving negative signals as the stock trades below the short term and medium term (50 day SMA) moving averages. Momentum indicators like the 14-day RSI are in decline mode.Daily negative swing indicator like -DMI is dominating (shown in orange object).
Combining the above technical evidences, we expect stock to slide lower and therefore recommend Sell on this stock at (price range 219-215) with an downside price target of 196-183 / Lower. Strict stop loss should be placed just above 235 which the bearish view will be voided.
THERMAX BREAKOUT ON WEEKLY CHARTS.THERMAX Stock price has broken the crucial resistance around 945 - 960 on the weekly charts.
Short term moving average has Placed above the long term moving averages and It has been created a long term trend reversal on Weekly Charts.
MACD oscillator has showing strength and Trading above its signal and equilibrium line.
So One can Initiate a Long Position in NSE:THERMAX At CMP for a Target of 1140 With a Stop loss Placed at 937.
Adani Power - ConsolidatingThe price action on weekly chart indicates a consolidation between 26-36 price levels (10 points range) where currently the stock is trading at the lower side of range. This week closing shall decide further direction in price movement. Keep it in your watch list to gain best out of it on time.
I would also appreciate any feedback on it to bring clarity to our discussion and further trading decisions.
