Tata Power Stock Hits 52-Week High. Can the Stock be Bought at These Levels?

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Tata Power Co. Ltd (NS: TTPW )

NSE :TATAPOWER BSE :500400 Sector : Power Generation & Distribution

TATA POWER Monthly Chart

Tata Power Company shares jumped over 12 per cent intraday on 9th June 2021, after CCI cleared Tata Power’s acquisition of stakes in three Odisha power utilities. It closed with gains of 6.5% on NSE at 124.65. Fairtrade regulator CCI has cleared Tata Power Company’s proposed purchase of a 51% stake in three power utilities in Odisha.

What’s Ahead? Technical outlook of TATA POWER:

The stock has outperformed Nifty . Comparative relative strength indicator shows bullishness in the stock. The stock on 9th June 2021 has seen a sell-off from an Intraday high of 132.70. Yesterday the stock closed above the previous resistance level of 114, which will act as support of the stock.

Above is the monthly chart of TATA POWER, and it can be clearly observed that the stock has a resistance level at 135 - 142 zone. As stock in the news has already rallied we suggest Intraday traders stay away from the stock as it can trade volatile in the next couple of trading sessions.

For long term investors, there lies the opportunity to accumulate the stock on the correction. The best buying levels for the stock are 114-120, and upside targets are 135 & 142. The stock needs to cross and decisively close above 142 levels for further up move.

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  • THREE SIDE GANGTERS @THREE SIDE GANGTERS
    sir, i have bought tata power share at 125 price. could yu tell me when it cross this level. how many time
    Like 0
  • THREE SIDE GANGTERS @THREE SIDE GANGTERS
    sir, i have bought tata power share at 125 price. could yu tell me when it cross this level. how many time
    Like 0
  • Prateek Gupta @Prateek Gupta
    Stock Corrected And Our executed Our Buying Zone of 114-120 and Buying was seen from support zone
    Like 0
  • Multibrand Hub @Multibrand Hub
    sir tell me about spel stock
    Like 1
  • Multibrand Hub @Multibrand Hub
    sir tell me about spel stock
    Like 0
  • Multibrand Hub @Multibrand Hub
    sir tell me about spel stock
    Like 0
  • Anu Radha @Anu Radha
    waiting for index levels sir
    Like 1
  • Iam Onatrip @Iam Onatrip
    thank you
    Like 0
  • sanu chakraborty @sanu chakraborty
    thanks sir
    Like 0
  • Pushpak Halwale @Pushpak Halwale
    ok
    Like 0
  • Kiran Kumar M S @Kiran Kumar M S
    Thanks Sir
    Like 0
  • JEETENDRA KUMAR @JEETENDRA KUMAR
    thanks
    Like 1

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