TORRENT POWER. Trading at Lifetime High now.
Breakout Indicators: Just look at Volume! 2) price broke out of Declining triangle indicating it was consolidating & resumption of previous trend most likely (which is bullish in this case).
The stock seems to be having jitters of being too pricey. There has been formation of inside bar on daily and the stock is too far from moving averages thus a resistance on 20 EMA and thus a fall downward to the red line being 200 EMA would be easily achievable in coming time within 2 weeks.
Buy Zone: 270 - 280
Target: Top (370) or 'Hold for new high' (450)
DISCLAIMER: THIS IS ONLY FOR SPECULATION AND NOT AN INVESTMENT ADVICE OR ANY RECOMMENDATION. KINDLY TAKE OWN DECISIONS FOR TAKING RISK IN FINANCIAL MARKETS AND TRADE AT YOUR SOLE DISCRETION.
#torrentpower #srs #stocktraderchannel #srsenrique #siddharthsehgal #nifty #niftyenergy
Torrent Power Ltd. engages in the business of power generation, transmission, and distribution of electricity. It also focuses on the manufacture and sale of cables. The company was founded on April 29, 2004 and is headquartered in Ahmedabad, India.