TATA POWER

Can I buy shares of Tata Power at cur­rent price?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Aru­mugampil­lai Manikan­dan

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.

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