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Tata PowerTata power, daily macd indicator has given positive crossover and that also above zero line, it looks like the stock has started wave (5) of 3. as of wave (5) unfolds, the stock can possibly rise higher to 140, 146, 151, 160, and 171 levels. one can go long at these levels or in dips (if any opportunity) price can dip towards green box buying zones mentioned on chart with stoploss of 121. wave structure could be like this key levels are mentioned on chart macd in daily pco above zero line and uptick rsi in daily is uptick and above 60 price above med.bollinger dmi and adx positive Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
NSE:TATAPOWERLong
by RK_Chaarts
11
Tata power Bullish setupJust like Metals and commodity stocks have turned bullish on the back of falling dollar and additional infrastructure spending by the givernment, power and energy stocks too follow the same persuit. Coming to the levels, Tata power is currently holding 20 week average and the stock has turned bullish again from the same levels before. The previous week it closed positive and hints at the end of the corrective wave. The channel breakdown could be false as it is pretty common for 4th waves. The entire structure is actually extending what we'll have another set of iii iv before which aligns with Nifty 50 as well. Go long for a target of 110 with a stop loss of 89. Do you own due diligence or consult your financial advisor before acting on the information present.
NSE:TATAPOWERLong
by Quasim
11