Tata Power is a company on the turnaround. They are actively looking to reduce debt by selling non-core assets and reach a resolution for their mundra power plant with 5 states after which they will have all strong assets on their books.
The stock has an inverted head and shoulder pattern. The stock price has moved above its 200EMA and 200WEMA over the last couple days..I already have been buying this stock in a staggered manner since 64.50.
A buy can be placed at CMP with a SL below 64.
Or another way would be wait for it to cross 71.50 before looking to enter the stock.
Disc: Already long on Tata Power.
The stock has an inverted head and shoulder pattern. The stock price has moved above its 200EMA and 200WEMA over the last couple days..I already have been buying this stock in a staggered manner since 64.50.
A buy can be placed at CMP with a SL below 64.
Or another way would be wait for it to cross 71.50 before looking to enter the stock.
Disc: Already long on Tata Power.