Tata Power - Does it have the mettle to touch 400?
Inverse head and shoulder pattern on daily charts, ready to breakout.
Breakout already happened on Monthly charts and then retracement was happening since 1.5 years with flag formation.. Now flag breakout can happen.
If we treat 140 level as the level of first monthly breakout, then since it is a multi year breakout, easily stock price could become 2x, 3x. 2x will mean 280. 3X will mean 420. Both are good targets to hold.
If we take the daily charts cup with handle, then also target shows about 32% from the current price.
Breakout already happened on Monthly charts and then retracement was happening since 1.5 years with flag formation.. Now flag breakout can happen.
If we treat 140 level as the level of first monthly breakout, then since it is a multi year breakout, easily stock price could become 2x, 3x. 2x will mean 280. 3X will mean 420. Both are good targets to hold.
If we take the daily charts cup with handle, then also target shows about 32% from the current price.
Comment:
Target reached. 400.