Swing Trade (Tata Power)
The price shows correction of almost 10 % since its new all time high. market could possibly reverse from the marked area till its target.
Confluences to support idea.
* Daily time frame looks bullish as its taking support on 50 Ema.
* Psychological level 250.
*FIb retracement 0.618
*Long term Trendline would act as strong dynamic support.
Although Higher time frame seems pretty bullish ,but structural shift in lower time frame, from bearish to bullish must keep in mind. Always Trade with more confirmations.
Confluences to support idea.
* Daily time frame looks bullish as its taking support on 50 Ema.
* Psychological level 250.
*FIb retracement 0.618
*Long term Trendline would act as strong dynamic support.
Although Higher time frame seems pretty bullish ,but structural shift in lower time frame, from bearish to bullish must keep in mind. Always Trade with more confirmations.
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