#TATAPOWER Breakout from the consolidation Good volume buildup Target 468/470 Stop loss 445 I am just representing my views For educational purposes only.
These levels are subject to change as market conditions evolve. These levels are based on historical data and may not be a guarantee of future price action. These levels are not the only levels that can be used; traders can use other indicators, such as moving averages or trend lines, to identify potential support and resistance levels. Current Market Conditions
Support Levels: Look for previous low points on the stock chart where Tata Power's price has historically bounced back. Resistance Levels: Identify previous high points where the price has reversed or faced selling pressure.
Support Levels: Look for recent lows where the stock price has bounced upward. For example, if Tata Power recently found support around ₹230, this would be a significant support level.
Resistance Levels: Determine recent highs where the stock price has struggled to break through. For instance, if the stock has faced resistance around ₹250, this level is crucial.
2. Trend Analysis Determine Trend Direction: Analyze the general direction of the price movement over the past hour or several hours. Identify whether the stock is in an uptrend, downtrend, or moving sideways.