Looking at first glance, I can find that 1-2-3-4 Waves have been made and 5th is runnning. While The secondary waves has also been seen till yet. Expecting prices to trade higher till 5th wave near 92-93 and We can see Primary corrective trend A-B-C till 80 or levels
Those who missed entry in Tata Power its last chance to ride the Winning horse
Enter after small retrace at 81.65 With SL 81.20 Target 82.80
For day trading only
It is been observed on the daily chart that the price action is trending up in a channel. Currently the price action corrected from month's high of 86 to 81 levels. Now, it shall further move up from the support levels of the channel.
Target: 85
Stoploss: 82
RR: 1:2
It 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
It 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
After forming a double bottom at 55 level stock gives a massive rally of Rs.20. From that double bottom to its recent high stock has retrace 61.8% where other fib ratios are also overlapping each other which shows a strong support area between 67-68.50 . If this support area is important than above coming resistances then we are on for the targets of 89 & 95.
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
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...
