Wednesday, October 14, 2015

Tata Power [BOM500400] - Update

Please refer to my earlier update here.

From past five trading sessions, tata power is struggling in the upper area of R1 [Weekly supply zone [R1]: 67.2 ~ 70.05. Click here for the details]. It has breached the T1 trend line, but the T2 trend line is still intact. The coming two trading session is crucial and would decide the next course. 

   1. Close below the T1 trend line and continue the down trend
   2. Test the T2 trend line and decisively break the T2 and the upper boundary of R1. But close above 70.05/70.15 on daily/weekly basis is required.

Let's see how it pans out.

Disclosure: I am holding shares of tata power. The chart above is created using tradingview.

Disclaimer: The views presented on desiBULLZ are my personal views. The analysis is my study of technical analysis and for educational purpose only. The views and analysis are not trading tips and should not be used for trading. The financial gain/loss arising by using the views/analysis is personal responsibility of stock trader/investor. 

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