* This stock is trading 200 Simple moving average above and triangle pattern after breakout torrent power ready for move 10 to 20 % .
* Trail your stop loss as per your risk reward
Very similar setup to Bajaj Holding and I expect huge momentum in the coming sessions. Expect one daily candle of 3-4% in coming sessions. Using your risk management and trade setup, compare and then decide on your own, whether you should take the trade or not. Nice price action as well as supply is visible on the chart in the form of a inverted hammer candle on...
Reasons for Short position and Setup:
1) Had given a breakdown with good volume at the Support level and is currently trying to breach.
2) Currently trading below 50, 100 and 200 EMAs.
Entry: Can enter around 316.00 to 315.50, after breakdown from the support with good volume (can use 20 MA on Volume to verify)
Stop loss: Keep SL at 320.50 slightly above...
Torrent power found support both in demand level and trendline support!
if it make HH or 'W' can go all the way up!
If you are liking my ideas please like them it gives motivation!
- NSE:TORNTPOWER formed IHS pattern on daily time-frame.
- Daily candle closed above the neck line.
- Taking a small long trade here with 1:6 R:R.
Let's see how this plays out.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
![TORNTPOWER: [Buddha] TORNTPOWER Inside Bar Trade](https://s3.tradingview.com/z/ZrXpelIv_mid.png "[Buddha] TORNTPOWER Inside Bar Trade")
