In the previous session, the Nifty index opened on a positive not and made high near 17764 level. Later we have seen sharp correction in the index towards day’s low, however it recovered some losses as the day progresses. On the technical note, the index formed a bearish candle on the chart and closed on a flat note.

 Look at the below research report of ‘Stocks to Buy for Wednesday, September 07, 2022’ before the market opens.

Tata Power Company Ltd

NSE :TATAPOWER   BSE :500400  Sector : Power Generation & Distribution

On the Daily chart of TATAPOWER, we are seeing the inverse Head and Shoulder pattern which indicates the reversal of a downward trend in price action. The stock has moved on higher levels breaking above the neckline of inverse head and shoulder pattern. A Bullish white body appeared on the candle as well as prices are taking support from 50 days Moving average.

In short, trend for TATAPOWER looks to be positive for now. As prices have decisively broken above 239 level, we can expect it to reach a target of 260 based on our analysis. This outlook is valid as long as 225 remains protected on downside and any pullback should be utilized as buying opportunity.

Check More Analysis on at TATAPOWER: Tata Power Company Ltd