3 Reasons To Buy Tata Power NOW !!

Chart patterns are just right to dive into Tata Power now and reap some clean profits from the bullish moves that we are expecting very soon. A leader in the energy sector, let us take a look into what promise the stock holds for us and what we can expect from it in the near term.

In the EOD chart above, we can see a bullish bat formation and perhaps the first bullish move has already occurred on the last bar. Having opened at 83.1 and closing at 84.3, Tata Power is definitely up for a strong change.

To cross check our views, we take a look into what Camarilla levels have to say. Here again, we find that the energy giant is hovering just above 83.68, which is a very strong support level, better known as the L3. Breaking this level and pulling prices down requires some major change in market outlook. having said that, we can look forward to a first target of 89.8 which is the first major Camarilla resistance.

Wolfe Wave patterns are neutral though and with the current situation would not pose any difficulty in price movements in either direction. With a very suitable chart pattern in place, Tata Power is definitely up for a good move. Its time to get into our trading shoes and make the most of this opportunity.

Share with us how you made use of this move !!

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