Tata Power Company Ltd - Breakout Opportunity
Date: 14-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 430.35
Targets: (1) Rs. 464 --> (2) Rs. 506
SL: Rs. 385 on daily close basis
Technical View:
•
TATAPOWER is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 464.20 on 3-Mar-2024, it has retraced 15% to 396.55 level.
• On 14-May-2024,TATAPOWER has broke out from its secondary down trend with high volume.
• RSI has corssed 50 and is trading at 52.70.
• MACD is trading at 3.14.
• Looking good to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 430.35
Targets: (1) Rs. 464 --> (2) Rs. 506
SL: Rs. 385 on daily close basis
Technical View:
•
TATAPOWER is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 464.20 on 3-Mar-2024, it has retraced 15% to 396.55 level.
• On 14-May-2024,
TATAPOWER has broke out from its secondary down trend with high volume.• RSI has corssed 50 and is trading at 52.70.
• MACD is trading at 3.14.
• Looking good to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
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