Can I buy shares of Tata Power at current price?
BUY TATA POWER LTD ABOVE RS 84.10
Tata Power is currently trading at Rs 82.35. 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 gave a descending triangle pattern breakout on September 13, but witnessed a pullback where the prices entered the triangle near to its multiple support levels of Rs 77-76. The stock has bounced back and has recently given a breakout with rising volumes. The 14-period RSI is quoting at 58 and may gain momentum after stock breaks out of Rs 84 level on a closing basis. Hence, we suggest you to enter the stock above the level of Rs 84.10.