Tata Power Elliot wave analysisDear traders ,
As you are aware TATA power is most demand stock in current days and Elliott baba is predicting some important levels of this stock . we can see this stock is making coreection since 20th oct 2021 . according to our elliott wave analysis its is showing flat correction on daily chart where it has completed A, B wave of flat correction and now forming C wave . which will go to 180 level in few days . so post making a low of 180 it will make high of 350 in coming month .
for now we can predict the level like
Tata power first move - 180 with in 15-20 days
Tata power 2nd move -350 with in 60 days
short term period go short for 180 and for long term anyone can go long on dip near 180 .
Tatapoweranalysis
Tata Power Can Hit 200 till Dec 2021.Tata Power can hit 200 till December 2021.. I have mentioned all level and points in chart.
1 : right now entry is risky. Buy at 175 (short term)
2 : short entry is possible. refer chart
3 : if you have bought it below 158 then you can hold for long time.
News :
Power sector news are positive.
coal shortage can left up power sector.
Analysis :
1 : Big player are in market.
2 : Big bull pattern
3 : high volume
4 : positive news
Risk :
1 : Over bought Zone.
2 : Chances of trend reversal.
Only for educational purpose.
TATA Power Multiyear Breakout *TATA POWER LONG TERM ONLY*
Tata Power is good stock for hold long term because after a sharp multiyear downfall and consolidation level stock near breakout level of multiyear but we can't buy stock at this range so, due to FOMO we can add some quantities at this level and when market maybe correct or consolidate in future then we can accumulate this stock till 115 level.
Buy Levels: Some quantities at this level and accumulate till 115
SL: 89 for long term only
TGT: Open Because stock has caliber to give very handsome returns in few years.
NSE:TATAPOWER
TATA POWER After a consolidation of 1 month , the stock has formed an triangular structure & has given
a breakout, assuming wave (e) to be complete around 120 area , stock is all set to complete an upthrust move, one should buy the stock on cmp and add on dips upto 120 to 123 zones if you get chance, and maintain the stoploss of 118.20 and look for the target of 128 & 134 levels and more.
Key Levels
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
Breakout in TATAPOWER (Weekly Time Frame)This analysis is for short-term swing trading opportunities (ranging from few days to few weeks). The analysis is purely based on price action on weekly time-frame.
As can be seen in the image, the trend-line has been acting as good resistance till it was broken on 10th August 2020 with increased volume . The stock touched its life-time bottom and then from there, it started an up-trend (higher-highs and higher-lows). As this uptrend continued, large increase in volume can be seen on charts (stock never saw such huge volumes in its lifetime).
After the breakout with volume confirmation, the price went up little and came down to retest that support level (same trend-line). As can be seen from the charts, price has got good upward rejection from that support. Also, if we use Fib-Retracement tool, we find that the support level is at 0.382 level which shows strength in on-going uptrend.
Trade strategy can be - to enter on the high of next green candle (entry can be made on daily time-frame as well on the high of previous-day candle). SL can be taken below 0.382 level = 49 or preferably below 48-47.5 level.
For Targets, there are two options - Either take previous swing highs as targets (marked with horizontal rays in red colour). Or target can be deduced with help of Trend-based Fib Extension tool (as shown in image). Target-1 as per that tool will be 72, Target-2 = 78 and Target-3 = 83 level.
Breakout in TATAPOWERThis analysis is for short-term swing trading opportunities (ranging from few days to few weeks). The analysis is purely based on price action on weekly time-frame.
As can be seen in the image, the trend-line has been acting as good resistance till it was broken on 10th August 2020 with increased volume. The stock touched its life-time bottom and then from there, it started an up-trend (higher-highs and higher-lows). As this uptrend continued, large increase in volume can be seen on charts (stock never saw such huge volumes in its lifetime).
After the breakout with volume confirmation, the price went up little and came down to retest that support level (same trend-line). As can be seen from the charts, price has got good upward rejection from that support. Also, if we use Fib-Retracement tool, we find that the support level is at 0.382 level which shows strength in on-going uptrend.
Trade strategy can be - to enter on the high of next green candle (entry can be made on daily time-frame as well on the high of previous-day candle). SL can be taken below 0.382 level = 49 or preferably below 48-47.5 level.
For Targets, there are two options - Either take previous swing highs as targets (marked with horizontal rays in red colour). Or target can be deduced with help of Trend-based Fib Extension tool (as shown in image). Target-1 as per that tool will be 72, Target-2 = 78 and Target-3 = 83 level.