Tata Power is consolidating between 370 INR (support) and 470 INR (resistance). The MACD shows bearish momentum with a negative crossover and declining histogram. If 370 INR breaks, the next major support lies at 336 INR.
The weekly chart of Tata Power indicates a consolidation phase, with the stock trading between 370 INR (support) and 470 INR (resistance). Currently, the price is testing the S1 Fibonacci level (~370 INR), a critical support zone. The following are key observations:
Key Observations:
MACD Indicator:
A bearish crossover is evident, with the MACD line below the signal line.
The histogram is negative and declining, signaling strong bearish momentum.
Support and Resistance Levels:
Current Support: Immediate support is visible near 370 INR (S1 level).
Further Downside: If 370 INR breaks, the next critical support level lies around 336 INR (S2 Fibonacci level).
Resistance: The stock faces resistance near 470 INR (R1 level).
Price Action:
The stock is in a downward trend after failing to sustain above its range near 470 INR.
A potential breakdown below 370 INR could lead to further bearish action toward 336 INR, a strong historical support.
Possible Scenarios:
Bearish Continuation:
A breakdown below 370 INR would confirm bearish sentiment, with the next support at 336 INR.
Traders should watch for strong bearish candles to confirm this move.
Reversal Potential:
If the price consolidates or forms reversal patterns like a hammer or bullish engulfing near 370 INR or 336 INR, it could indicate a potential recovery toward the upper range.
Conclusion: Tata Power is currently at a crucial support zone. A breakdown could lead to further downside, with the next key level at 336 INR. However, any signs of a reversal could present an opportunity for recovery. Traders and investors should monitor price action closely near these levels.
The weekly chart of Tata Power indicates a consolidation phase, with the stock trading between 370 INR (support) and 470 INR (resistance). Currently, the price is testing the S1 Fibonacci level (~370 INR), a critical support zone. The following are key observations:
Key Observations:
MACD Indicator:
A bearish crossover is evident, with the MACD line below the signal line.
The histogram is negative and declining, signaling strong bearish momentum.
Support and Resistance Levels:
Current Support: Immediate support is visible near 370 INR (S1 level).
Further Downside: If 370 INR breaks, the next critical support level lies around 336 INR (S2 Fibonacci level).
Resistance: The stock faces resistance near 470 INR (R1 level).
Price Action:
The stock is in a downward trend after failing to sustain above its range near 470 INR.
A potential breakdown below 370 INR could lead to further bearish action toward 336 INR, a strong historical support.
Possible Scenarios:
Bearish Continuation:
A breakdown below 370 INR would confirm bearish sentiment, with the next support at 336 INR.
Traders should watch for strong bearish candles to confirm this move.
Reversal Potential:
If the price consolidates or forms reversal patterns like a hammer or bullish engulfing near 370 INR or 336 INR, it could indicate a potential recovery toward the upper range.
Conclusion: Tata Power is currently at a crucial support zone. A breakdown could lead to further downside, with the next key level at 336 INR. However, any signs of a reversal could present an opportunity for recovery. Traders and investors should monitor price action closely near these levels.
Dagangan aktif
Updated Trend Analysis:Current Price: ₹338.55
Trend Direction:
The price has decisively broken the key ₹370 support level, confirming further downside pressure.
The next major support level at ₹336 (S2 Fibonacci level) is being tested.
The overall trend remains bearish, with lower highs and lower lows forming.
Support and Resistance Levels:
Immediate Resistance: ₹370 (previous support turned resistance).
Stronger Resistance Levels: ₹470 (R1 level) – This would require a significant bullish reversal.
Next Support Levels:
₹336 (S2 Fibonacci level) – If this level breaks, the price could see further downside.
₹300 (psychological support zone) – A potential target if bearish momentum continues.
MACD Insights (Momentum Analysis):
Bearish Momentum Persists:
The MACD line remains below the signal line, indicating continued downside pressure.
The histogram continues to print red bars, suggesting no immediate reversal in sight.
No signs of bullish divergence yet, keeping the risk tilted to the downside.
Updated Possibilities:
Bearish Continuation:
If the price fails to hold ₹336, the next possible downside targets are ₹320 and ₹300.
Further downside can be confirmed if selling volume increases.
Relief Bounce Scenario:
A short-term bounce from ₹336 could occur, but ₹370 will now act as strong resistance.
The price would need to reclaim ₹370 to signal any meaningful recovery.
Sideways Consolidation:
If the price holds ₹336 but struggles to reclaim ₹370, expect a range-bound movement between these levels before the next breakout direction.
Conclusion:
Bias: Bearish unless price reclaims ₹370.
Key Levels to Watch:
Support: ₹336, ₹320, ₹300.
Resistance: ₹370, ₹400.
Indicators Suggest: Continued downside unless momentum shifts.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.