TORNTPOWER trade ideas
Torrent power near Major Support ZoneTargets : 192-200-220 Buy range : Above 180 Stoploss : 167 Duration : 3-4 weeks
Rationale :
The share price of Torrent Power is currently placed at a major value area around Rs 170-172. The corrective decline of the last two months has the underpinning characteristics of a secondary correction within the larger uptrend.
We believe the stock is likely to form a base around the major support area of Rs 170-172 and resume its uptrend, thus providing a good entry opportunity for short-term with a favourable risk reward set-up.
The corrective decline from the 52 weeks high of Rs 241.95 in the last two-three months has helped the stock price to work out of overbought conditions and discover a value area around Rs 175-170 being the confluence of the 61% retracement of the previous major rally from Rs 120.55 (August 2014) to Rs 252.70 (March 2016) and upward sloping trendline joining from 120.55 (August 2014), 136.75 (June 2015) and 159.30 (November 2016) containing entire up move of 2014-2016. (Shown in separate monthly charts below).
Presently, the stock has formed support (trend line) with dates 18/11/2016, 29/07/2016, on weekly charts. Highest point touched during this period is 193.6.support line still holds good, stock is hovering just above support price of 164.25.
On Daily charts, we observed prices making lower lows (LL), while the oscillator (14-day RSI) is making higher lows (HL), which is considered to be “Regular Bullish Divergence”, that normally occurs at the end of a downtrend.
Further a “Morning star” candlestick pattern was formed till previous close, which is a bullish reversal pattern of high reliability, especially when it occurs in a downtrend. (shown in blue circular object).
We expect the stock to resume its uptrend after base formation around the above mentioned support area and head towards Rs 225 in the coming months as it is the 78.60% retracement of the last two months decline from Rs 241.95 to Rs 172 levels. Hence suggest Buy in this particular stock as per levels mentioned above.
Torrent power- Bullish re-test of previous highs likely.Stock poised to move above 62% retracement level and could target 235/240 in the coming quarter.
head and shoulder pattern fomed"enter for trading when breakout will be completed " ....
note : - friends i want to share 1 very important thing with all of you please read it carefully..
as we all know for the last few days india-china border dispute remained still......
while china media said yesterday , if india does not remove their army from doklam than they may attack on india with in 2 weeks
we all don't know the reality , will china attack or not...
but suppose if china go for attack or war with india than what what will be impact on share market ?????
And it is too difficult to judge how much the market can fall that time ...
last time when the news came about surgical strike on 29 september , have u seen what happened that time ?????
if u want u can see data on 29 september 2016
my motive is to say only there are so many people who earn money by lots of trade And i don't want that they lose their huge money on 1 trade....
so use every day sl till it does not get solve.....(indo-china border dispute)
don't trade without risk management & money management
no matter what u r using intraday,weekly trade or short term
if u are in profit use trail stop loss...
market moves always on some technical based , some fundamental based
but market always falls when any negative rumors comes
and any war happen between country
that time all technical will be flopped ....
it was my personal view friends.......
And these all things apply for only buyers while who have shorted their position they do not need to fear . ........
TorntPower - Triangle!Buy above 185 with the stoploss of 183.5. Targets are 186.5, 187.5 and 189. Sell below 183.5 with the stoploss of 185. Targets are 182, 181 and 179. Trading rules.for "Vanathi Waves" 1. Enter trade after seeing price action for 15 mins. 2. If you are bullish wait for the price action to give entry for long. 3. If you are bearish , wait for the price action to give entry for short. 4. Dont enter trade if there is no clear buy/sell signal. 5. Enter when price action breaks 15 mins high/low.
TORNTPOWER: Can Harmonic: Bullish CRAB Give Potency ?TORNTPOWER: @ 184.10
Pattern: Harmonic: Bullish CRAB ,
Can Price - Vol. Action Indicates WORST is OVER ?
Indicators & Oscillators Also Suggests So.
Go LONG: Aggressive Within +0.50%
All Swing Trade, Short-Term & Mid-Term Targets are Plotted in Chart .
Best LONG / BUY: @ 193.40 - @ 181.70
MORE: @ 179.20-
Intraday TGT: 187.40, @ 189.10 , @ 191.90+
SL: @ 176.80- (BY CLOSING)
FnO Strategy Updated Later.
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Disclaimer: Only For STUDY.
For taking Trade Decision Consult Financial Advisor.
TORNTPOWER: Powered by DIVERGENCE Power.TORNTPOWER: @ 187.10
Powered by DIVERGENCE Power.
Detail of POSITIVE Divergence along with Indicator Value , Start & End Date:
Divergence Start Date Close I_Value End Date Close I_Value
RSI +VE 13/06/2017 183.45 30.94 19/06/2017 181.55 31.42
OBV +VE 13/06/2017 183.45 3.187E8 19/06/2017 181.55 3.201E8
MACD +VE 13/06/2017 183.45 -7.19 19/06/2017 181.55 -6.65
WilliamR +VE 13/06/2017 183.45 -89.4 19/06/2017 181.55 -80.41
Stoch +VE 06/06/2017 189.15 24.24 19/06/2017 181.55 34.16
I_Value => "Indicator Value"
LONG For Short Term TGT @ 220
More intermediate Target on the Chart.
Intraday Res / TGT: @ 188.3 - 188.9 (HZ),@ 190.1, @ 191.3,
BEST BUY Zone also Intraday Sup: @ 184.8 - @ 184
SL: @ 178- (By Closing)
Torntpower institutional over run the levels I think institutional have over run the retrace level of Fibonacci @ 61.8% and have pushed all the buyers in to sellers after braking the levels
Now possible set up is 78.6% of Fibonacci level along with Bullish engulfing candle pattern
I am looking to go long at 181 with stop 177 For target of 207 as 1st target
Regards
Torrent Power Possible Buy Set upI am looking to Buy at 184 with stop of 178 for Target of 200 , This is for short term Holding
This information is for educational only
Regards
Tarron Power on Bull Trend from 2013 One can look the Rising trend line of Stock have Made the Journey
Today the stock made another low again , I am looking to enter Near 179 with stop of 174 for further Up ward momentum
This stock will reach 300 with in 6 Months
Regards
Triangular Action in “Torrent Power”Outlook :
The stock has been consolidating in a range of Rs 241-210 from March 2017 till date and seen constructing a higher troughs & lower peaks forming a pattern “Symmetrical triangle” (red converging lines), which is considered to be indecisive in nature.
The said pattern generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines and a break below the lower trendline(as in our case), is a strong signal which indicates prices to move lower.
This week, the stock also broke the recent lows of 218 on the back of healthy volumes, which indicates that selling was intense and the stock looks set to continue the next leg of its downtrend.
Technical indicators are currently giving negative signals as the stock trades below the short term and medium term (50 day SMA) moving averages. Momentum indicators like the 14-day RSI are in decline mode.Daily negative swing indicator like -DMI is dominating (shown in orange object).
Combining the above technical evidences, we expect stock to slide lower and therefore recommend Sell on this stock at (price range 219-215) with an downside price target of 196-183 / Lower. Strict stop loss should be placed just above 235 which the bearish view will be voided.
TORNTPOWER Up SwingTechnical indicators OverSOLD
formed Harmonic Bullish Pattern.
LONG TORNTPOWER: RCP @ 192.5
BEST @ 191.5-
More: @ 190.6-
TGT(Intra + Pos / Exp.) : @ 194.7, @ 196.3, @ 198.5, @ 202.4, @ 207 @ 211, @ 217+
SL: @ 188- (By Closing) or @ 185.3- Which comes first
TORNTPOWER Reversal or CrashTORNTPOWER: LTP @ 202.6
TORNTPOWER Reversal or Crash.
Approaching Towards 200SMA Support (Crucial) @ 191.5
10 SMA Touched 50 SMA. (Vale mentioned in The Chart)
GAP between 10 WMA & 10 SMA Max. in last 1 year (i.e. 2.8241), Effect "Possible U-Turn" .
Conclusion: Probability of LONG.
BEST Level for LONG: Between @ 200.00 to @ 196.00
TGT: Mentioned in Chart.
Intraday Levels:
TGTs for LONG / RES.: 204.7, @ 205.55, @ 206.9 - @ 207.9 (Hurdle) , @ 210.58
TGTs for SHORT / SUP.: @ 201.05, @ 199.7 - @ 198.6 (BOUNCE) , @ 196, @ 193.8.
Torrent Power - May 4th Day Trade!Buy above 223 with the stoploss of 220. Targets are 225 and 227.
Sell below 220 with the stoploss of 223. Targets are 217, 215 and 212.
Intraday calls depend on the market opening. Analyse and follow your trading plan always. This trade is valid for 4th May 2017 only.
Analysis is based on Dow tenet "Lines indicate movement" and RSI.
TorrentPower : Channels, Breakouts & Trades !!!Today;'s close will determine the moves potential.
Its just with simple elliot counts & its not foolproof
Check at your end before taking the trade and I'm not sure about whether the correction will pan out same way or variations will happen but its Daily candles so you need patience, its not like My Nifty & Banknifty posts which happens within a day or two !
Happy Trading !
Torrent Power - April 26th Day Trade!Buy above 231 with the stoploss of 229. Targets are 234, 237 and 239.
Sell below 229 with the stoploss of 231. Targets are 227 and 225.
Intraday calls depend on the market opening. Analyse and follow your trading plan always. This trade is valid for 26th April 2017 only.
Analysis is based on flag break out.
torrent power with shivshort TORNTPOWER between 234.5 -235.5 sl 237 trg 231 228 225 this is study perpose only
Torrent PowerRemain Cautious at this level.
Short this on first sign of reversal.
Target 220/200
Resistance Zone 240-250.
Torrent Power - Forming rounding bottom!Torrent power is forming rounding bottom in daily/weekly chart. The level 245 - 252 will be crucial as the price action will try to break the resistance. Jan 19th daily candle with high volume indicates investors have accumulated the stock around 190 - 195 level. The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an uptrend. This pattern forming in the daily/weekly chart indicates this script is turning from bearish to bullish . When buyers enter the market at a low price, it increases the demand for the stock . Once the rounding bottom is complete, the stock breaks out and will continue the uptrend. Keep it in the watchlist.
torrent pharma take long with shivbuy above 220 when prise do close above that 220 level then trg is 222 and 224 do own analisis this is just study perpose
some stream left in torrent powerbuy this stock around 210 with sl at 207 target towards 217 short term call
