Tata Power stock can be seen breaking down the support level and also it is trading at RSI 30 level.
Tata power Bearish- Breakdown 28th Jan 2019
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Stock Analysis
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Bullish View
Bearish View
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Hi,
This is not an appropriate call if you taken it as a RSI perspective. Read the below lines
Bullish Signal
When the RSI falls below 30 it simply indicates the weakness of the stock but do not indicate an oversold scenario. When the stock rises back above the 30 level after a plunge then the stock is considered to be oversold and might be due for the bullish rally.
Bearish Signal
When the RSI rises above 70 it simply indicates the strength of the stock but do not indicate an overbought scenario. When the stock fell below the 70 level after a rise then the stock is considered to be overbought and might be due for the bearish rally.