Long on Tata PowerTechnicals :
(Weekly)
1) Multi year Parallel channel Breakout & Retest
2) Volume buildup
(Daily)
1) Rounded Bottom pattern
2) Volume Spike
Target 1 - 123
Target 2 - 145
Search in ideas for "TATA POWER"
Ready for a Big breakout?A great swing pick. Seeing a good upside after a long days of consolidation in Tata Power, also a fundamentally strong company . You can enter into the trade with a target of 119 and 101.70 as a stoploss.
inverted head and shoulder on tata powerits not perfect but as forming on horizontal boundary can consider it.
paper trading
as we miss accumulation we are conservative on position sizing
sl will be 49 on weekly closing i.e. if it break 49 on daily come out and close above 49 then re-entry as
we don't know how much fall will be there with volume so this way we are safe from high speed fall.
target is all time high. so be ready with patience as it will take long to hit.
becoz it took almost 1 year to form
be patient eventuallylong term wealth will be generated.
avoid news
SHORT Tata Power(Intr@day)Supply zone is around 60.50.Short idea is made for Intraday on Monday, with SL of 61.10with TG 57.50
Tatapower -a good breakout from triangular patternyou can buy tata power for 90-92 fro trading purpose and 110 for long term
