TATA POWER,SYMMETRICAL TRIANGLE & BULLISH FLAG PATTERN BREAKOUT!
One can start with simple patterns identification. on the 30min time frame. Symmetrical triangle has given upward bullish break out with good volume. Then stock faced the resistance at the level of 114 (highlighted with red line). Then stock formed flag pattern, then again stock has given bullish flag pattern breakout. then again stock faced the resistance at the level of 114. This is very strong resistance level. once it cross this level, this will work as very strong support level for this stock. ''PAPER TRDAE ONLY FOR LEARING PURPOSE'' CASH TRADE BUY- 112-115 STOP- 110 TARGET- 120
MAR FUT TRADE BUY- 113 STOP- 107 TARGET- 120
115 CALL OPTION BUY- 4.85 STOP- 3 TARGET- 10
DISCLAIMER: THIS IS ONLY FOR THE EDUCATIONAL PURPOSE, KINDLY DO YOUR OWN ANALSIS BEFORE INITIATION OF ANY TRADE. NOTHING IN THIS ANALYSIS IS A RECOMMENDATION TO BUY OR SELL STOCKS OR FUTURES OR OPTIONS. CONSULT YOUR FINANCIAL ADVISOR PRIOR TO INVESTING IN STOCK MARKET. KINDLY LEAVE YOUR LIKE AND COMMENTS. THANK YOU. HAPPY TRADING.
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