Thread by @janak_lotwala

#tatapower - Technical Analysis thread🧵3 Takeaways ?

#1. Price Action - This stock is making lower high and lower lows and will be in bearish territory till the time the diagonal trend line is broken

#2. Static support of 213 is broken which has stood multiple times. Now it will act as resistance

#3 On top of this there is Head & Shoulders pattern also in play here, which can be extremely negative. Incidentally this coincides with 213

#4 So what next ? In such patterns, however good the story is, I stay away till the time get new indicators or a bottom formation

10+ Retweets on this thread & i will analyse next chart on demand. Don't forget to suggest in comments

Disclaimer: This is not to be taken as recommendation in any form. This is an educational blog on Technical Analysis, which I actively use for my risk management. Consult your financial advisor before any investment decisions

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@janak_lotwala

Previous example of how ferocious H&S pattern (Head and shoulders can be), check out this analysis I did in Feb

https://twitter.com/janak_lotwala/status/1490662019863035905