Target Price: ₹560 (As per Nomura's analysis)
Price Action: The stock is currently trading at ₹456.90 (+3.54% for the day). It has been in a steady uptrend, following a clear rising channel since early 2024, supported by both the 50-day and 200-day moving averages, which indicates long-term bullish momentum.
Key Levels:
Trend Channels:
Price Momentum:
Outlook:
Given the current market setup, Tata Power is showing signs of continued bullish momentum within its trend channel. A move beyond ₹507.40 could trigger further buying, pushing the stock towards ₹560 in the medium term. Any price retracements to the ₹435 level can be seen as a potential buying opportunity, given the channel support.
Chart Details:
Price Action: The stock is currently trading at ₹456.90 (+3.54% for the day). It has been in a steady uptrend, following a clear rising channel since early 2024, supported by both the 50-day and 200-day moving averages, which indicates long-term bullish momentum.
Key Levels:
- Support: ₹435.50 (currently a strong support level near the lower trendline)
- Resistance: ₹507.40 (the recent upper boundary of the trend channel)
- Target Price: ₹560 (suggested by Nomura)
Trend Channels:
- The stock has formed a well-defined ascending channel, where the price tends to respect both the upper and lower boundaries.
- Recent pullbacks toward ₹435.50 suggest that the stock is consolidating before a potential bounce toward ₹507.40, and possibly ₹560 in the medium term.
Price Momentum:
- RSI: The Relative Strength Index (RSI) suggests that the stock is not in overbought or oversold territory, signaling healthy price momentum.
- Volume: Notice the spike in volume during price rallies, reflecting strong market interest and confirmation of price movements.
Outlook:
Given the current market setup, Tata Power is showing signs of continued bullish momentum within its trend channel. A move beyond ₹507.40 could trigger further buying, pushing the stock towards ₹560 in the medium term. Any price retracements to the ₹435 level can be seen as a potential buying opportunity, given the channel support.
Chart Details:
- Green Lines: Support and resistance levels.
- Blue Channels: The stock’s rising trend, representing medium-term bullish momentum.
- Volume: Key volume spikes highlight investor activity during price jumps.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.