Tata Power which is part of the CNX Energy index has not been having the best of times. The stock declined by around 17% in the year 2013 even as CNX Energy index more or less closed flat. 2014 has started off extremely bad for the stock with it losing 17% within the first 7 days of this year.
In December, the stock had broken above the Top Horizontal Line of the Ascending Triangle formation. Unfortunately the stock could never take off and with today break of the trend-line, the whole pattern stands invalidated.