TORNTPOWER trade ideas
#torrent powertorrent power look like just gave a false breakout and came back could test lower level will look to trade both side
short : 280
tgt 1 : 260
tgt 2 : 235
long: if it holds the level of 230 and 235 then we can look to long
entry : 235-238
tgt 1: 303
tgt 2 : 333
tgt 3 : 383-387
good candidate to play both side if price meets all expectation
Torrent Power - H&S FormationNSE:TORNTPOWER has formed H&S formation and high probability of breakout.
Long above 288.80
T1 - 315.82
T2 - 344.35
Sl 265.70
Neck to Neck Trade The stock is in Corrective wave B , which is very complex pattern of correction , the most important factor is to understand the end of the wave or termination of complex correction , During regular candlestick its really impossible to identify the complex correction system , but when we neglect time factor or when we switch to fixed price based trading , where the reversal and advance is fixed in the form of % or Points , here the default ATR value is 14 Period 9.01 Points , based on this information we can easily identify the possible up coming termination or end of the current trend , or start of new trend
R N Elliott did leave a very good principal of price movement in wave form , but due to complex behavior of traders and algorithmic trading have left their foot prints which are not easy to identify using candlestick , in order to identify proper direction with clear top and bottom we have to chose the tool which are price based not time based
Regards
#TORNTPOWER - Ascending Triangle PatternTORNTPOWER has formed ascending triangle pattern on daily chart. Stock is poised for upside breakout above 286/288 zone. RSI has demonstrated downward-sloping trendline breakout on friday's session with volume.
Torentpower-hammer and trend line support weekly chart Torentpower-hammer and trend line support weekly chart range of 38 points after cross of 290
Torrent Power - Getting Power!Buy above 262 with the stop loss of 259. Targets are 266, 269, 272 and 275. Swing trade.
Torrent Power Bearish ABCDTorrent Power Bearish ABCD
RSI is into overbought condition with a red candle & a doji in uptrend with our Bearish ABCD
Short Below 261 with 280 as SL
T1 - 255.5
T2 - 242
T3 - 231
T4 - 220
TORNTPOWEROn Hourly Chart, Stock has broken the trend line Support.
But now in Demand Zone.
If breaks 272, This can move towards 265
Keep an eye.
Torrent Power - MonthlyAnother stock breaking out after a good round of consolidation. Strength can be expected here as well!
TORRENT POWER - HNS - BREAKOUT - MTHAs per GOVT Policies to give more importance to POWER & INFRA. One stk to make double your money is Torrent Power.
Given multi yr Breakout on stk and good to buy for 1yr time frame. CMP 270. tgt should be 450.
Disclaimer :- I am not a certified SEBI analyst. View given is personal.
RESISTANCE level broken in TORRENT POWER .RESISTANCE level broken in TORRENT POWER .
One can go long with entry at the level 265 -270
TARGET 1 - 290 (R:R 1:1)
TARGET 2- 310 (R:R 1:2)
STOPLOSS - 250
Fantastic Breakout: TORRENT POWERTorrent Power looks fabulous, buy for positional trade, as well long term
futures can also be traded but with caution, I suggest buy and hold for 20% upside
Torrent power - Inverted H&SNSE:TORNTPOWER has formed inverse head and shoulders pattern in day chart.
One can go long above 237.50
T1 - 251
T2 - 260
SL - 224
Torrent Power - Rounding bottom!Price action is forming a rounding bottom pattern. Strategy is buy in dips.
