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Tata Power Out Of Corrective PhaseTargets : 88-100 Buy range : 80-82 Stoploss : 75 Duration : 4-5 weeks
Outlook :
The share price of Tatapower during the previous session has rebounded from near the crucial support area of Rs 77-75 region as it was the confluence of following technical parameters.
The 61.8% retracement of the previous rally from Rs 67 to Rs 91.15 is placed around Rs 76.
The long term trend line support joining lows since February 2016 and November 2016 is also placed around Rs 76 region.
During the previous session, the stock rebounded above the long term 200 Days EMA (pink line), also posted a breakout from a “Falling Wedge” like pattern with a sharp rise in volumes which can be seen in the adjacent chart highlighting the overall positive price structure.
In the last two-three sessions the stock has seen a sharp rise in volumes, crossing nearly 3-times the average daily volume of last 15-days average volume in previous session itself. Strong volume at the crucial support level indicate accumulation by strong hands before the impending reversal.
Daily 14-RSI has also rebounded from the oversold territory and has generated a buy signal moving above its own trendline, thus supporting positive bias in price.Stochastic has also resumed to move in upward direction.
Based on the above technical observation, we believe the corrective decline has approached maturity and the stock is likely to resume, towards its previous top levels in the short-term.
Hence, recommend a Buy as per levels mentioned above.
Tata Power might follow Elliot Wave TheoryLooking at first glance, I can find that 1-2-3-4 Waves have been made and 5th is runnning. While The secondary waves has also been seen till yet. Expecting prices to trade higher till 5th wave near 92-93 and We can see Primary corrective trend A-B-C till 80 or levels
Tata Power - Channel Trade SetupIt is been observed on the daily chart that the price action is trending up in an uptrend channel. Now, the price action has touched and reached to the support level or line of the channel, forming a channel trade setup. It is usually a risk trade setup but most rewarding.
Target 1: 84
Target 2: 85
Stoploss: 81
TATA POWER - BEARISH PIN BAR CANDLESTICKSIt is been observed on daily chart that the price action forms a Bearish Pin Bar Candlestick formation indicating Buyers exhaution and Sellers taking over the price action. It shall further put the price action down to previous support levels at around 74.
Target: 74
Stoploss: 79
Tata Power - Bullish Cypher Pattern It is been observed on the daily chart that the price action forms a bullish harmonic pattern called cypher pattern where the Leg D is reaching 78.6% retracement levels. Now it shall retrace back to 38.2% of CD leg. The pattern shall be validated unless it breaks below the stoploss placed at previous support levels.
Target: 78
Stoploss: 72.50
#43 POWER GRID WILL BECOME POWER STAR $#43 (GENIE IDEAS): I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.and if you have any queries let me know. I have also posted my views on stocks which on the verge of breakout indraprastha gas, ubl , castrol, hindustan unilever, jindal steel, india bulls, dabur, tata power.
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High Probability Trade... Rallis!!Easy swing of +20-30% possible in next 1 year.
Few of the past performance: RETURN %
Tata Power: 105%
Spencer: 64%
Tata Consumer: 55%
Suprajit: 56%
Titan: 45%
Tata Motor: 30%
NICAL: 27%
La Opala: 28%
Amongst others. Even with few bad apples of 20-30% SL from buying level, we can have a decent returns. Long run way ahead for these beasts! :)
Hope, being a lazy investor & investing on Weekly charts can make Investing as a fun second job for all of us.
Disclosure: Invested, Use your own judgment.
Nifty Energy DTF Price Chart - Still Weak - Short Candidate#CNXENERGY still a weak sector on DTF basis price action. It seems like a possible H&S Pattern in the making with neckline as the middle of parallel channel. Also since the price is below the MA's and in a down channel my overall view remainsBearish for this sector. Shorts recommended
Energy, Oil & Gas, Power Stocks clearly Avoid Long
Some stocks for the sector are - Reliance, NTPC, GAIL, Powergrid, Tata Power, BPCL, HPCL, ONGC. Find your best stock to short basis OI data and future buildup
Disclaimer -
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do your own analysis and consult your financial advisor before investing.
TIA!
Nifty Energy - Next Big Theme ???Nifty Energy to outperform Nifty in coming days.
Both Long term and short term trend became bullish.
Very positive changes are happening in this
sector and
Charts are looking bullish .... : :)
Few stocks to track in this segment are
Power grid
Tata power
Ntpc
Coal India
PFC,REC,PTC...
SECTOR BREAKDOWN (FINDING SUPPORTS)Hello friends in Today's session we saw that power related stocks were beaten up brutally major supports are broken for example IEX, Tata Power, Torrent power, CESC and so on, so I studied on these power sector Giants on Daily time frame chart for if they continues to be beaten like this in coming sessions so where the stocks can take supports for this study I used a self made equally weightage Index too because these all above mentioned stocks are related to power sector but as we all know that there is no particular index listed for power stocks, for making this index I am sharing that below.
IEX SUPPORT-:
TATA POWER BREAKDOWN-:
TATA POWER SUPPORT-:
TORRENT POWER BREAKDOWN AND SUPPORT-:
CESC BREAKDOWN AND SUPPORT-:
EQUALLY WEIGHTADED INDEX-:
Hope this idea will help for accumulation or addition of favorite ones from these Good quality stocks.
NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
TATA Group ! 28 companies Overview** ALL MONTHLY CHARTS ** to get a birds eye view of their life
-1----TCS---->
2-----TaTa Metaliks=--->
3-----TaTa power--->
4-----TaTa Elxsi--->
5-----TaTa Motor DVR-->
6-----Tit@n--->
7-----TaTa Steel-->
8-----Nelco-->
9-----TaTa Motors--->
10-----Tinplate-->
11-----TaTaSteel Long product-->
12-----TaTa Investments-->
13-----TaTa Consumer-->
14-----Indian Hotels-->
15-----Voltas-->
16-----TaTa Comm-->
17-----Trent-->
18-----TaTa Coffee-->
19-----TaTa Chem-->
20-----Tata Teleservices--->
21----Rallis india-------->
22-----Tayo Rolls-------->
23-----TRF--------------->
24-----TataSteel BSL----->
25----Benaras Hotels---->
26-----Automobile Corp. of Goa---->
27----Arteson Engineering---->
28-----Automotive Stamping & Assembly--->