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Tata Power: At crucial resistance levels The stock is at crucial resistance levels Given the set up one may consider to sell 25 Nov expiry 260 Call option currently around 7 Strategy has max profit potential of Rs 47250- per lot and has in built loss protection for a rise up to 267 Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:TATAPOWER
by indiamarketoutlook
6
TATA POWER: Bullish TriangleBULLISH TRIANGLE : Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e. Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept to the breakout level of wave-d to get the target of this pattern. Trading strategy: Buy on cmp and add on dips , maintain the sl of 120 & look for the tgt of 133-34 .
NSE:TATAPOWERLong
by TradingSutra
1
Testing Key Support with Bearish MomentumTata Power is consolidating between 370 INR (support) and 470 INR (resistance). The MACD shows bearish momentum with a negative crossover and declining histogram. If 370 INR breaks, the next major support lies at 336 INR. The weekly chart of Tata Power indicates a consolidation phase, with the stock trading between 370 INR (support) and 470 INR (resistance). Currently, the price is testing the S1 Fibonacci level (~370 INR), a critical support zone. The following are key observations: Key Observations: MACD Indicator: A bearish crossover is evident, with the MACD line below the signal line. The histogram is negative and declining, signaling strong bearish momentum. Support and Resistance Levels: Current Support: Immediate support is visible near 370 INR (S1 level). Further Downside: If 370 INR breaks, the next critical support level lies around 336 INR (S2 Fibonacci level). Resistance: The stock faces resistance near 470 INR (R1 level). Price Action: The stock is in a downward trend after failing to sustain above its range near 470 INR. A potential breakdown below 370 INR could lead to further bearish action toward 336 INR, a strong historical support. Possible Scenarios: Bearish Continuation: A breakdown below 370 INR would confirm bearish sentiment, with the next support at 336 INR. Traders should watch for strong bearish candles to confirm this move. Reversal Potential: If the price consolidates or forms reversal patterns like a hammer or bullish engulfing near 370 INR or 336 INR, it could indicate a potential recovery toward the upper range. Conclusion: Tata Power is currently at a crucial support zone. A breakdown could lead to further downside, with the next key level at 336 INR. However, any signs of a reversal could present an opportunity for recovery. Traders and investors should monitor price action closely near these levels.
NSE:TATAPOWERShort
by vishwanathprabhu45
TATAPOWER Analysis 18/11/21; S&RTata Power is building support at current levels of 236-237. At point 1, we can see a STRONG SUPPORT LEVEL (Trendline support in parallel channel as well as Fibonacci Retracement 0.236 support level.) As we have already seen previously, TATA POWER has taken support and bounced back from these levels a few days back. If the stock sustains and respects this strong support level, then a further upmove is expected. Levels can be seen from the colourful fibonacci extension charts. Stock has already seen a resistance in this zone, early this morning. You can go long here for targets till 250 and further to 270+ (Its ATH). Even if stock remains in this channel, we can for sure look for an high till stock touches upper band in this channel. ** I am not SEBI Registered advisor. Kindly consult before taking trade. **
NSE:TATAPOWERLong
by ParyataK