Based on the 1-hour chart of Tata Power:
It is attempting a short-term bullish flag, but confirmation is not complete yet.
Technical Structure Assessment: Flagpole:
Strong impulsive move from ~₹365 to ~₹377–378
Volume expansion visible on breakout candle.
Momentum indicators (Stoch RSI) near overbought — Which is typical after a flagpole.
Flag Formation:
Post spike, price is moving in a tight sideways/slightly downward channel.
Candles are small-bodied → consolidation behavior.
10 DEMA holding above 20 DEMA → short-term structure intact.
Clean breakout above ₹378–380 is expected ,If it holds above 380 zone .Based on the Flagpole height of ₹12–14 it is expected to test 390-395 zone(For educational purpose only)
It is attempting a short-term bullish flag, but confirmation is not complete yet.
Technical Structure Assessment: Flagpole:
Strong impulsive move from ~₹365 to ~₹377–378
Volume expansion visible on breakout candle.
Momentum indicators (Stoch RSI) near overbought — Which is typical after a flagpole.
Flag Formation:
Post spike, price is moving in a tight sideways/slightly downward channel.
Candles are small-bodied → consolidation behavior.
10 DEMA holding above 20 DEMA → short-term structure intact.
Clean breakout above ₹378–380 is expected ,If it holds above 380 zone .Based on the Flagpole height of ₹12–14 it is expected to test 390-395 zone(For educational purpose only)
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.