Tata Power Company Ltd

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

​TATAPOWER gained 3.11% on Wednesday trading session and closed at 125.95 on NSE. Stock was is buzz on account of news. The management commented that the demand in the power sector we are seeing has improved a lot in the last one month, which significantly reduced in April and May, especially in the first half of May. It is expected that as the industries will return to their full capacity and the commercial and other activities if the shops open up then the demand should return to its peak in June and July. It has been seen that this year already our peak went up to 180 Gigawatt and it was the peak of two years back, i.e. before the COVID in 2019 summer.

On 9-June-2021 the day on which TATAPOWER Stock hit 52-weeks high we already mentioned that stock should accumulated on corrections around 115-120 and Same has happened stock yesterday touched low of 116.60.

Click here, to read our previous prediction on TATAPOWER

What’s Ahead? Technical outlook of TATA POWER:

Stock formed flag pattern on daily chart as marked on the chart above. Comparative Relative Strength Indicator shows out performance in the stock, On Daily time frame chart stock is trading above key moving averages i.e. 10,20 and 50 exponential moving averages. Stock if trades above 128.50 in Thursday’s trading session, will see fresh breakout of flag.