TATA Power: Bullish Flag Breakout awaited
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TATA Power has given breakout (near Rs 80 range) on a weekly time frame "couple of months before". This breakout took time of around 12 years.
It has already RETESTED its weekly support.
There are some fundamental news also floating around.
* Electric Vehicle Boom Era and Green Energy: Its management is working hard to replace it's thermal power plants to the "Fully Green" power generation power plants, so that it won't miss the upcoming boom. It is also working to provide Electric Vehicle charging stations to more and more cities.
Etc.
I am expecting a breakout due to "bullish flag" chart pattern. Remember, the daily candle is invalid if it has more wicks and less body, and it must close higher than the resistance line. Entry can be made after 3:00 PM when the daily candle is nearly closed. SL can be placed below the low of "breakout candle" or below the previous support.
I'll update SL and Target after the breakout.
Disclaimer: Please do your own research before jumping into the trade. Till that, just be a spectator and evaluate how the prices move after the breakout. I already have open positions which I'll hold or exit at my SL.
It has already RETESTED its weekly support.
There are some fundamental news also floating around.
* Electric Vehicle Boom Era and Green Energy: Its management is working hard to replace it's thermal power plants to the "Fully Green" power generation power plants, so that it won't miss the upcoming boom. It is also working to provide Electric Vehicle charging stations to more and more cities.
Etc.
I am expecting a breakout due to "bullish flag" chart pattern. Remember, the daily candle is invalid if it has more wicks and less body, and it must close higher than the resistance line. Entry can be made after 3:00 PM when the daily candle is nearly closed. SL can be placed below the low of "breakout candle" or below the previous support.
I'll update SL and Target after the breakout.
Disclaimer: Please do your own research before jumping into the trade. Till that, just be a spectator and evaluate how the prices move after the breakout. I already have open positions which I'll hold or exit at my SL.
Ghi chú
I am expecting good up move above Rs 99.20 tomorrow. It won't be an entry though, just wait n watch.Ghi chú
breakout maybe possible tomorrow above Rs 100.40 provided market is bullish or flat.Ghi chú
Breakout trade already missed. Let's wait for trendline support at Rs 99 levels. If I don't find suitable entry, I will cancel the trade.Đã hủy lệnh
Ghi chú
I expect anyone who is reading my writings to know that there is nothing "certain" in the markets. Neither the %gain on stock nor "out-performance" or "under-performance". There is a risk and opportunity cost involved in both, buying and selling. Selling at any price can often result in "opportunity loss" when the stock moves higher and higher. Human psychology is a culprit here. For e.g. I post any stock which seems undervalued or overvalued to me on tradingview. When anyone makes money on that, they wont appreciate me "a single word". But when they lose or it results in opportunity loss, they are bound to blame me. I don't criticize any person, because I know their psychology has defeated them. At last, there is nothing like "easy money" in the markets. The survival of the fittest holds absolutely true here.
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