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MULTI YEAR BREAKOUTTATA Power is trading at its all time high, Same as the Energy sector which is stronger than other indices. this stocks has given a breakout from a very old resistance of year 2008. During the uptrend, volume has been building up since april 2020. In the weekly chart, breakout candle is very strong so for the entry trade can be taken at current levels with a SL of 135 (130 for a safer side)and expecting a target of 250, if price gives any retracement near 145 to 150 more quantity can be added. Since we are analyzing this stock on the weekly chart min time span for the target is 3 to 6 months.
NSE:TATAPOWERLong
by anuragsahu614
Tata Power : The making of a possible multibaggerAn interesting behavioral pattern is in continuous formation on monthly charts of #tatapower 1. Since its listing (available chart data) it remains in a consolidation box for about 1852 days 2.Ending this consolidation phase, it enters a parallel rising channel that spans all along 1248 days 3.After this parallel rising channel it again enters in a massive consolidation box that lives a length of 4566 days 4.Breaking this consolidation phase with a landmark of lowest price in five years it enters in an uptrend where it begins to form yet another parallel rising channel, this parallel rising channel as of today has reached 548 days 5. Since last seven months it has been forming an upward move with a higher low pattern,no low of previous months is broken in any of these seven months 6. Currently it is trading well above all the moving averages (specifically 9, 13, 21, 25, 50, 100, 200, 365 EMA) 7. As of today, the Stochastic RSI is 100.00 8. MACD is in a bullish crossover since Sep '20 and the all green histograms are onto a new peak formation frenzy 9. Since Mar '20 the trading volumes are registering life time high numbers How often do we find such awesome chart patterns ?? Views and opinions solicited !
NSE:TATAPOWER
by harshad_009
TATA POWER Wait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
NSE:TATAPOWERLong
by Rvkachhadiya