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
TATAPOWER
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
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





