Stock of the Day – Tata Power

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. 

Image

 

 

Advertisements

About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
This entry was posted in Uncategorized and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s