TATAPOWER SETUP Price is nicely moving in a channel and making higher highs. Price is near Fib level and near the trend line. If price breaks the trendline then it should move till the next resistance level. However looking at recent Volume I do not feel the price will move above the trendline. However this a potential setup to go long if prices breaks the...
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...
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Going below 73.50- looks to boil. Likely 71 could be coming support or going below 69- we shall look for 66 zone where W-wave shall be divided internally into 3 -waves.
Going below 75- I am expecting 68 Handle -if TP is successful in breaking 73 handle as well. The fall started with big red candle making a halt at 73.80's level- did a pullback to 76 back but I am still bearish & once we break 73.80 level-TP should continue down. Regards, Abhishek H.Singh, CMT
Since the bottom in the zone 50-55- In traditional analysis we call it double bottom which was activated once 72.50 was taken out & Tata Power started moving upside. The first leg from bottom zone 50-55 is done in the zone 77-78. currently in sideways & time consuming pattern. Trading below 75 & later penetrating 73 as well shall give confidence that TataPower...