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Curve pattern. Should move downwards. If breaks current resistance level, short term moves are marked with support levels for complete target of arc.
Fibo levels also plotted
Torrent Power .. one of the strongest stocks which never fell in this market carnage..
though it has been holding up.. it failed to get past 312 313 zone multiple times and rsi is forming lwer highs
sell at cmp or any rebound with SL 313 on clsoing basis for target 300 and below..
Rolling the future.
View stays same.
Rolling over the short to next settlement. Closing 260PE, 280 PE, 300PE, 310CE with good gains.
If it breaks out above, will sell 300 PE August.
Sell at 305
Stoploss 315
Target 293-275
Reasons For Trade- 1.Price Has formed double top pattern on daily chart
2.Price has formed bearish candlstick pattern on daily chart
3.Small pullback is possible
4.Price broke the hourly trendline
5.Price closed below 200 EMA on 15 minute chart
6. Risk Reward 1:1
Torrent Power Limited is a holding company. The Company is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh. It is also engaged in the business of cables manufacturing with operations in the state of Gujarat. It has an aggregate generating capacity of approximately 3,334 megawatts (MW). The Company's generation facilities include an approximately 1,147.5 MW SUGEN Mega Power Plant near Surat; an over 382.5 MW UNOSUGEN Power Plant near Surat; an approximately 1,200 MW DGEN Power Plant at Dahej SEZ near Bharuch; an approximately 422 MW AMGEN Power Plant at Ahmedabad; an approximately 49.6 MW Wind Power Plant at Lalpur, Jamnagar; an approximately 51 MW Solar Power Plant at Charanka, Patan, and an approximately 81 MW GENSU Solar Power Plant near Surat. The Company distributes approximately 10 billion units of power to over 2.2 million customers.
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TORNTPOWER
![TORNTPOWER: [HP] Torrent Power Rollover](https://s3.tradingview.com/l/liMTU2xx_mid.png "[HP] Torrent Power Rollover")
