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TATA POWER | REVERSAL | TECHNICAL ANALYSIS | SWING TRADETata Power showing a reversal in a downtrend in 1 H timeframe. Nice BUY opportunity!!
Buy around 123.5 to 124
Stop Loss around 122 to 122.5
Target 1 at 125.5
Target 2 at 127
Indicators used are Fibonacci Extension and Fib Time along with reversal signs in RSI in different timeframes.
TATA POWER IS CONSOLIDATING CAN EXPECT A BREAKOUT TATA POWER HAS BEEN CONSOLIDATING AFTER A GOOD RALLY LST MONTH, SINCE THE COMPANY IS FUNDAMENTALLY REALLY STRONG AND THE COMPANY IS RECIEVING A LOT OF SALES AND NEXT GEN DEVELOPMENTS FOR ELECTRIC CARS. CAN KEEP THIS FOR LONG TERM AS WELL AS FOR SWING CAN EXPECT A GOOD RALLY TO 150-180 RANGE IN SOME MONTHS.
Tata Power - Vibrant BreakoutTata power in 1hr time frame had a good breakout and taking a retracement in the trendline, so give an entry with appropriate Stop loss
Aggressive traders enter at the breakout and conservative traders may give entry after retracement
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Tata power go Long On Breakout of Elliot Wave 5Tata Power has already started minor elliot wave 5 , which will take it to 136, by July2-5 and 142+ by July 12-13.The strong trendline zone is acting as very strong support.
Bullishness in Nifty can even lead to an extended wave 5, leading to targets upto 150+ in July itself.