Tata Power Company Ltd

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

About Company: Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. It also manufactures solar roofsamd plans to build 1 lakh ev charging stations by 2025

Daily Chart of TATAPOWER:

Technical Outlook of TATAPOWER:

Stock today Gained 3.93% or Rs. 9.40 Per share and closed at 248.50 on NSE. Overall market traded too wild and volatile in the intraday trade. Nifty PCR (Put call Ratio) reached 0.45 and market reached oversold reason and from there we have seen short covering in the market. On the other hand TATAPOWER consolidated till 01.45 Pm and rally has been seen in the stock in the last hour of trading.

On the daily chart, We can clearly observe consolidation in a range of 50 points i.e. 202 on the lower side is acting as short term support for the stock and on the higher side 250 is acting as short term resistance for the stock.

If tomorrow stock sustains above 251 level we can see rally in stock towards 267 and stock will enter bearish zone below 236 level. Hence we recommend to buy TATAPOWER above 251 for target 267 and stoploss of 236.

Check More Analysis on TATAPOWER at: Tata Power Company Ltd