TATA POWER trading in a channel on hourly chart

5 feb 2024

Breaking below 390 can give some good fall where as if it sustain above 390 then it can give move towards 400.

7 feb 2024

Trade attivo

today it reached to 400 and then back to lower trendline support line. Channel still active.

8 feb 2024

Trade attivo

touched 400 again, seems in consolidation zone

8 feb 2024

Trade attivo

Channel breakout happened today till 411 and closed at the upper line of the channel.
Now 395-400 will act as support and breaking that can give a good fall.
Tomorrow one can also try to sell TATA from high line of this channel to lower line observing weakness.
Tomorrow are TATAP results so it can be volatile, please trade at your own risk. This post is to only share the observation on what is happening and if it can help anyone.

9 feb 2024

Trade chiuso: obiettivo raggiunto

This is what happened yesterday (Friday): Tomorrow one can also try to sell TATA from high line of this channel to lower line observing weakness.
A great fall of almost 25+.
395-400 did not acted as support and it directly fell out the channel so 395 acted as resistance after that.