Stars seem to have aligned in favour of the sellers.
The daily chart shows:
Head -and-shoulders pattern in progress. The right shoulder's descend about to start with neckline positioned at Rs. 185.
The MACD is crossing bearish
The monthly chart shows:
A bear cross between 5- and 10-month MAs. The stock recently failed to keep gains above both averages, validating the bear cross.
Sell Tata power between 220-225 target 185 stops above 245
The daily chart shows:
Head -and-shoulders pattern in progress. The right shoulder's descend about to start with neckline positioned at Rs. 185.
The MACD is crossing bearish
The monthly chart shows:
A bear cross between 5- and 10-month MAs. The stock recently failed to keep gains above both averages, validating the bear cross.
Sell Tata power between 220-225 target 185 stops above 245