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TATA POWER BREAKOUT - Green Signal BUY>It took nearly 6 months for a massive breakout... Cheers for all those who remained patience during 6 months of consolidation phase..next target is 320
Breakout in the trend line, based on your risk management go for buy.
>Safe traders wait for Retracement buy @275 ,
>Aggressive traders buy @276.
TATA POWER - Important support/resistance levelsKey highlights:
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- Being consolidating for the last 5 months.
- The parallel channel has a width of about 50 points.
- Using the measurement objective, the upside breakout target of the parallel channel lies somewhere near 305.
- The price is well above 200 MA cluster, hence the bias is positive.
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Tata Power trading below trade lineit is trading below tradeline if closes below 235/- can see more selling from these levels. ALSO IT IS FORMING BEARISH ENGULFING CANDLE.
Disclaimer: I am not SEBI registered and all the analysis is purely for educational purposes. Not a buy or sell recommendation. consult your financial adviser before entering any trade.
TATA POWERAs we saw it had already given a breakout not its on retest. If we see any green candle on daily TF we can initiate a long entry. This can we a good swing trade.
Note- I am not a financial advisor. Take entry on your own risk. I am not responsible for your loss or profit
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Tata PowerEverything self explanatory on chart
Close above trendline as well above 50 Dma
Clean setup
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade.