Multi Year Breakout - Retesting DoneTata Power Co. is involved in the business activities of Electric power generation, transmission and distribution.
It has already broke out of Multi Year Resistance with Lifetime High Volume. The Stock made high of 115 after breakout and retraced back to retest its breakout. It is now comfortably placed above its resistance levels and ready for new highs.
Accumulate with SL at 90 for Targets of 115-140-160 respectively.
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TATA Power – Range Breakout above 108 else Sideways to BearishTechnically Stock had crossed Bearish Trend line around 78 on monthly Chart after same we saw huge Upside within 2 months time frame.
Next Trend line is around 108 if crossed more Upside can be seen. Else Stock can go Sideways to Bearish
Buy above 108 only for Target of 141
Fundamentally Co has 44k Crs Debt vs 21k Crs Reserves.
Annually they are paying 4.2k Crs Intrest and have just 1.1k Crs worth of Net Profit.
It will take 44 years to Pay back there Debt.
If for any reason there Top Line reduces even by small % like 10% then Co is in Deep Trouble.
Hence use this Script for Short term trading only.
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
TATA Power 24 May 2021, Intraday setup with symmetrical triangleThis setup can be used for taking an intraday position, long or short, as the price shows its action. The setup is just my idea, please your own analysis and risk management for taking the position. Avoid taking a blind trade. Open to healthy criticism and feedback :)
Tata Power Long TermRevenue up in Mar 31, 2020 291,363.70 from Mar 31, 2019 298,810.60
Net Change in Cash 17,728.70 from Mar 31, 2019 -8,830
Total Assets 897,481.50
Total Liabilities 701,821.30
After corona effect power consumption at record high this year so hopeful this stock
Investing for 2 Year
in Pyramiding Style
Entry at 85 CPM on DCB
Stop Loss at 75 for Current Trade
after successfully enter in this trade will shift the Stop loss on Weekly Close Basis
This is for Educational Purpose only not for investing
#Invest on your own risk
Tata Power Breakout to New Impulse Wave It is been observed that the price action is trending up by making higher highs and higher lows. Previously, at high of 77 levels price action consolidates and corrects within a downward trendline and then breakout the trendline and then broke out to a new highs with that impulsive wave. Now it is again breakout from the downward trendline and looking to reach for previous high levels of 80.
Target: 80
Stoploss: 74.50
this dip will be an opportunity Tata Power CMP 414
Elliott- there is one more wave C down of the double corrective pattern zig zag still due.
Fibs- 370 and 343 are the two zones to look for reversal. Fib ext too has the similar zones.
RSI - break of support at 45 is negative. the oscillator was in the bear zone while the stock made new highs is again negative. It will continue to fail below the averages.
MA- The rallies are failing below the averages. That's weakness.
Conclusion - this stock is in a strong bull trend and this dip will be an opportunity to buy this counter.