TATA POWER

Can I buy shares of Tata Power at CMP? - Pran­jit Gope

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

AVOID TATA POWER FOR NOW

Tata Power is cur­rently trad­ing at Rs 77.70. Its 52-week high/low stand at Rs 91.25/Rs 67.10 made on April 3, 2017 and Novem­ber 9, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock had formed a kind of de­scend­ing tri­an­gle pat­tern and gave a break­out at Rs 82.80 level on Septem­ber 13. The stock is re­cently trad­ing in a pull­back mode where it en­tered the tri­an­gle. The stock has a sup­port near Rs 76.50. If the stock breaches Rs 76.50 fol­lowed by Rs 75.90, it may see a sharp down­side. Hence, we sug­gest you to avoid en­ter­ing the stock for now and en­ter above Rs 83.60 on a clos­ing ba­sis.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.