TATAPOWER trade ideas
Buy Tata PowerGo for Long position in Tata Power..
Showing good consolidation and a confluence of trend line and a triangle pattern.might be a wealth creator.
TATA POWER Symmetrical Triangle breakout is on the way Strong Resistance @ 129, Confirmation @ 132, First Target= 146
Symmetrical Triangle Pattern in TATAPOWER MUST WATCH Learning Triangle Pattern educational Purpose, An IDEA CAN LIGHT your BRAIN Tublelight
The triangle chart pattern is formed by drawing two converging trend lines as price temporarily moves in a sideways direction. Traders often look for a subsequent breakout, in the direction of the preceding trend, as a signal to enter a trade.
Learn Difference between Symmetrical Triangle Pattern and Other Triangle Pattern:
The difference between the symmetrical and the other triangle patterns is that the symmetrical triangle is a neutral pattern and does not advice in any direction. While the triangle itself is neutral, it still favors the direction of the existing trend and traders look for breakouts in the direction of the trend.
Symmetrical triangle trading strategy
Triangles provide an effective measuring technique for trading the breakout, and this technique can be adapted and applied to the other variations as well.
Its important to note that finding the perfect symmetrical triangle is extremely rare and that traders should not be too hasty to invalidate imperfect patterns. Traders ought to understand that triangle analysis is less about finding the perfect pattern and more about understanding what the market is communicating, through price action.
TRADING WITH TRIANGLE PATTERNS: KEY THINGS TO REMEMBER
Always be remember of the direction of the trend prior to the consolidation period.
Make use of upper and lower trendlines to help to identify which triangle pattern is being formed.
Use the measuring technique to decide achievable target levels
Stick to sound risk management practices to mitigate the risk of a false breakout and ensure a positive risk to reward ratio is maintained on all trades.
mcpriceaction
# 91 TOOFAN READY TO RAGE#91(GENIE IDEAS): HOLD WITH PATIENCE. 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.
Leave a comment that is helpful or encouraging.
Its my idea plz comment its correct or wrong Bcz I am new .I have seen trade line, simple moving average of 44 and adding levels.
TATA POWERLet me know your views on this!!
Disclaimer: Chart is shared only for educational purpose. Before investing please consult your financial advisor.
Tata Power - 9yr Breakout RetestThe stock seems to be consolidating above its breakout area. The breakout resistance has turned into a strong support. Safe to buy on a closing above 127.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.
TATA POWER--> quick 15% upside potential in short term The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Expecting Breakouts in coming days ✌✌✌This scrip is forming a Triangle pattern and it is expected to give triangle breakout. So traders keep on your radar to catch the momentum And enjoy the profit. Thanks to all..
TATA POWER: Bullish TriangleBULLISH TRIANGLE :
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e. Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept to the breakout level of wave-d to get the target of this pattern.
Trading strategy:
Buy on cmp and add on dips , maintain the sl of 120 & look for the tgt of 133-34 .
Tatapower- LongI think symmetrical triangle is Tatapower's favorite. ;-))
Closing above 128.75 on daily time frame, will give you a target of 144.
SL at logical place is mandatory.
Fundamentally strong, Nifty energy also looking strong.
P.S. This is just for informational purpose. Do your own study before entering into a trade.
