Here's something I've been using recently with andrew's pitchfork. If you use a 2x extension on the width rather than the pitchfork itself, then it often defines a trend line which helps to identify a head and shoulders pullback.
Ideally the head will go deep into the extension and then the right shoulder tags it after a retrace. The idea is the trade is entered...
ACHIEVED THE TARGET OF 71 AS MENTIONED IN THE PREVIOUS POST.
TATA POWER HAS STARTED UPWARD JOURNEY ONE MORE TIME.
TARGET MAY BE KEPT AS 76.
THERE SHOULD BE A FAST UP MOVE ONCE THE 71 LEVEL IS CROSSED.
Tata Power (Sell) is moving in a channel. and after breaking the 200 DEMA level the stock has sharply corrected. Downward target at 65. Maximum Puts at this level.
Tata Power looks bullish 69 (daily con close above 75. Volume in upmove is good after posting double bottom. Above 75 next 1st target would be 85 with sl below 68 (closing)
RSI and CCI are showing positive moementum
The Tata Power Company Limited is an integrated power company. The Company's principal businesses are in the areas of generation, transmission, distribution-cum-retail, power trading, power services, coal mines and logistics, strategic engineering for defense applications, solar photovoltaic (PV) manufacturing, and engineering, procurement and construction (EPC) services. The Company's segments include Power, Coal and Others. The Power segment includes generation, transmission, distribution and trading of electricity. The Coal segment includes mining and trading. The Others segment includes defense engineering, solar equipment, project contracts/infrastructure management services, investment, shipping and property development. The Company has an operational generation capacity of approximately 9,180 megawatts based on various fuel sources, such as thermal (coal, gas and oil), hydroelectric power, renewable energy (wind and solar PV) and waste heat recovery.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
TATAPOWER
