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Strongsignal

Why TATAPOWER ?Hi everyone! Let us discuss TATAPOWER in this thread. TATAPOWER has given fabulous 750% movement b/w May'20 and Oct'22 and since then it is in consolidation. Below I have mentioned my reason why I think it is a good time to consider this stock. 1. Price Action : :- Stock is testing its 2 year long trendline(pl. refer chart). :- In weekly chart last four candles have formed higher lows, which if formed near support generally signals strength. :- Triangle pattern breakout in Daily chart. 2. RSI : Monthly RSI is near 60 at same time weekly RSI is testing 40 whenever price is moving near trendline. 3. Good Risk to Reward : Since stock is near its trendline so the SL will be only 6-7% which means we can expect a RR of 8 to 10. After all these positive points there is also one point which will be of slight hindrance and it is that, Stock is trading below its 200 moving average(in daily), and once it crosses past that we can expect some good momentum in this stock. Do you agree with all this? Pl mention if you have any point in addition or against above points. THANKS!
NSE:TATAPOWERLong
by sudhanshu_raaz
3
WELSPUN CORP- Strong BreakoutHi All, I hope you are all doing good:) The market is currently in a phase which nobody would prefer it to be. But this is the time where we should work hard so that when the wind starts flowing in our preferred direction, we would be the first one to reach the coastline. I was excited for this weekend as I had a clear objective of finding out stocks which did not fall much this week and held their ground. And, I was completely surprised by this chart. In such times when there is bloodbath going on in the benchmark index and majority of the major stocks, this stock has given a clear breakout of a 7 month old resistance. Now, I would still not go and simply buy this stock on Monday. I would still wait for a pullback as it is good to be cautious during such market phase. But it is definitely worth putting this stock under our watchlist and observe. Do not let FOMO take over, if this stock is showing such strength then trust me it will give huge targets to cherish at the right time. Now as a homework, analyse the stock on different time frames. Establish your own view. Mark support and resistance lines yourself (you can share your chart with me in DM). If you are good at fundamentals, go through them and let me also know. In short, create a PLAN! Like I always say, let's learn and earn together. Cheers! ;)
NSE:WELCORPLong
by Ankit_Oberoi
2