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TATAPOWER trade ideas

TATAPOWER - Bullish H&S Pattern - Swing tradeThis analysis is purely based on price action and chart pattern. Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades. Trade Strategy along with logic is explained in image itself. Always plan your trade & trade your plan Keep trailing SL accordingly once entered into the trade. This analysis is purely for education purpose. Kindly do your own study before entering into any trade . Feel Free to comment for any query and suggestion.
NSE:TATAPOWERLong
by AdityaKarn90
6
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.
NSE:TATAPOWERLong
by AdityaKarn90
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.
NSE:TATAPOWERLong
by AdityaKarn90
Supply and Demand Gap- A guide to possible move"This is my trading journal, not a trade recommendation. Will be Posting and updating the ideas regularly in related ideas linked below, as market progresses, only for educational purposes for me and others who want to benifit from my experince. You can see the journey till date in linked related idea below - Tata power: 3D analysis(Prices in Transition zone) DISCLAIMER: Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market. This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
NSE:TATAPOWERShort
by AniketKabir
2