Tata power has confirmed rising triangle pattern and has broken the resistance of
210 . So there could be a up move of 14 points in up coming market.
Note:- This is just for educational
purposes only.
Technically @tatapower is showing many bearish signals at a higher timeframe. There are significant confluences in the range of 250-260. Reasons I would look for a short:
1- Looks like a class book pattern -Wycoff Distribution pattern(Currently in phase B later half end, so we maybe we see 250-260 first)
2- It is in the 5th wave according to Elliot wave theory...
beautiful technical formation called round formation which is bullish
stock looks good although as its belong to power dont see humoungous rally due to the sector issues
Today is the FINNIFTY expiry. It has been in a tight range, if it breaks, it may give a good move.
TATA POWER and TECHM analysis for break out.
Keep these on your watchlist.
Happy trading. If this helped you, share in the comment.
I am not SEBI registered. Kindly take your own trades.
CNXEnergy will be an absolute avoid from a long perspective.
One can see that the RSI is losing a lot of strength and the index is unable to make higher highs.
We have witnessed this kind of pattern during 2018,2019 and we all know what happened in 2020.
It can dupe by a small movement but one need to observe if the index is unable to make a higher high then...
Tata power chart on 1D time frame is forming a triangle pattern and is now at the trend line support point with the daily demand zone at the same place. We can see the reversal from here. The entry and sl is marked with the help of smaller time frame and target is kept at ema20.
Upside seen on Tata Power for a target of 240 and then 280 levels. On weekly bases, it is consolidating in the range of 200-280. On trend line basis, in case next week closing is above 230 levels, 240 and 280 could be seen in 1-2 months.
Tata Power Ready for a Big Rally
Near Major EMA Support on Daily Chart
Positive RSI on Daily Timeframe
Hourly Chart Nearly about to breakout above resistance
Looking for some good bounce from here
#NIFTYINDEX, #NIFTY50
* NIFTY INDEX : RESISTANCE AT 17550 - STRONG SUPPORT AT 17000.
> After two day rally, Nifty may go for consolidation mode. Banking Sector rally may continue, that will make nifty to break 17600.
> Global Market seems to be in consolidation Mode or Profit Booking after huge rally for past 2...
TATA POWER is in reversal trend and according to my conviction, this will hit 240.00 level soon. One should take 210.00 level as stop loss.
Get Daily Short-term tips on my app, Intraday Tips Time2Trade
Tata Power Technical Outlook:
5 Days - 236.10 SMA
10 Days - 239.31 SMA
20 Days - 237.99 SMA
Can Tata Power repeat what Adani Power has done? Probably Yes.
Should you invest aggressively at this point? No. Wait for the breakout.
Can it fall from these level? Yes, it can but that will only give buying opportunity and my opinion will...
