TATA POWER breaks the triangle pattern going long, plus the recent earning results indicate earning growth.
Tata Power Q2 Results: Net profit rises 8% to ₹1,017 crore, revenue up 12% YoY.
Possible to cross the all-time high of 277.
The federal bank just broke the all-time high and resistance of 152.85 and looks bullish. Maybe a pullback will occur after a few hikes.
Expecting 180 level target (based on previous breakout rallies)
Maintain stop loss below 147 (as per risk appetite and position sizing)
Add FSL to the watchlist for a nearby breakout, if the stock can cross 175 then a breakout will occur and a rally may start however, there is a possible downside if it fails.
Support at 156.
Plus the company has good fundamentals for a long-term investment.
#Do the research