In my post date 06-May-2020, I have suggested to go for SHORT on NSE:TATAPOWER (for short term gain). On 06-May, it was closed on Rs. 29 and I have suggested TARGET of near Rs. 27 , which it almost achieved today (11-May-2020).
With some FUNDAMENTAL weakness (like decline in net profit, profit margin & net cash flow), L&T stock is in BEARISH mode .
Hence call for SHORT, all details regarding entry price, SL, targets etc are mentioned on chart.
Weekly time frame gives an indication on Possible Support line in coming days/ weeks if it falls.
=========== WEEKLY CHART (for possible...
Here is multi-time frame analysis of TATA POWER:
One can clearly observe the price movement within the channel.
Breakdown of weekly channel due to prevailing economic slump, but expected to take support of monthly channel lower trend.
So, we can expect the...
Recently I shared an analysis on HUL and suggested to go for SHORT. This was against all others' recommendations and price trend as price has already crashed by almost 17% from its peak. But many of you supported & liked the idea, so BIG thanks for all of...
Firstly, I wanted to share multiple time frame (1D, 1W) chart to validate the Hourly analysis, but due to some limitation couldn't able to do that. Hence presenting hourly analysis ONLY.
Overall trend : if you observe multiple time frame chart, it is clear that HUL is on BEARISH trend. Hence on hourly trend below are observations:
A normal correction (without impact of COVID-19), would have taken NIFTY to level of 9700-10300 (~22% - 20%) based on past drop analysis (Fibonacci Retracements and GANN BOX).
Considering impact of COVID-19, a further drop of 22-25% occurred based on impact of economy (basically FY2020-21 Q1 has impacted, so around 25% net impact), hence OVERALL drop of around...