TATA POWER - Short & Long Term View- Wave Analysis
Updated
TATA POWER CMP: 428.45; RSI: 50.05
TATA Power in Primary bull cycle & in mid of impulse wave-3 in weekly chart basis. This, Primary Impulse wave-3, should take the price to levels of 646 (1.618x) in next 8-10 month of time frame. While wave within the wave, on shorter time frame, on daily chart frame, its middle of intermediate corrective wave-4, which may retrace the price till 365 to 330 levels in coming 3-4 months.
TATA Power in Primary bull cycle & in mid of impulse wave-3 in weekly chart basis. This, Primary Impulse wave-3, should take the price to levels of 646 (1.618x) in next 8-10 month of time frame. While wave within the wave, on shorter time frame, on daily chart frame, its middle of intermediate corrective wave-4, which may retrace the price till 365 to 330 levels in coming 3-4 months.
- Value Buy level : 330-365;
- Accumulation zone: 330-390;
- Mid term target (Q1 FY: 25-26): 600-650
- Long Term Target ( 3-4 Yrs): 850-900
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Intermediate corrective wave-4, is in play and as suggested earlier on 15th Dec 2024 the script will further breakdown till 330 odd levels. Wait for market stabilization before making fresh position
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