Torrent Power has created a 5%+ move followed by change in trend.
The stock has closed above EMA21/50 marking it as a bullish sign.
With such change in trend there can be 2 scenarios which can exist.
Scenarios1: The stock retraces to the demand zome formed at 1318 levels. In such a retracement going long would be a opportunity.
Scenario 2: A small daily inside candle if formed on the daily ( inside candle meaning a smaller range candle which has a high low with the range of previous candle), can be an opportunity for break out.
The stock has closed above EMA21/50 marking it as a bullish sign.
With such change in trend there can be 2 scenarios which can exist.
Scenarios1: The stock retraces to the demand zome formed at 1318 levels. In such a retracement going long would be a opportunity.
Scenario 2: A small daily inside candle if formed on the daily ( inside candle meaning a smaller range candle which has a high low with the range of previous candle), can be an opportunity for break out.
#Take proper position size
#Safe trading
#Safe trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
#Take proper position size
#Safe trading
#Safe trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.