Tata Power has already formed a inverse head and shoulders pattern in the weekly time frame that too at the bottom and gave a beautiful breakout from there along with amazing volumes now this long term trendline being broken . my targets for TATA power is 96 for the INH & S pattern !
Disclaimer : This is my own analysis do your own research before entering any trade .
THIS CAN BE A PERFECT INVERTED H&S PATTERN pattern is visible after a good down trend the volume pattern is also convincing as left shoulder has the highest volume and right has the lowest . there is 50 DEMA AT AROUND 1279 ONE CAN WAIT FOR atleast an hour candle to close above 50 DEMA
can be bought above 1281 if it is broken with good volumes , do not buy if...
looks like a good flag pattern in lupin, as the flag is perfectly sloping downwards against the present trend. the volume has also declined perfectly as it should decline. lets wait for the breakout from the channel and keep an eye on the volumes if there is a spike of volume when it breaks out. the target which the pattern projects is around 120 points :O .
A good morning star at the bottom , it has broken the highest high of the candle of morning star pattern today.
also there is Bullish divergence in RSI and MFI.
there is 200 DMA around 233 levels , 20 DMA around 226-227 and a good resistance at 238-240 levels keep an eye on this. i traded the morning star bought at 228.90 .
Expert comments are always welcome and...