|Sell Range||72 – 70|
|Target||68.5 – 67|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||3 – 5%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|70.6||SELL||72 – 70||68.5 – 67||73.5||15 – 20 Trading Sessions||3 – 5%|
# CMP on July 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 70.
^ The returns are calculated based on CMP#
The Tata Power Limited engages in power generation, transmissions, distribution and trading of electricity in India. Also, it manufactures photovoltaic cells and modules, procurement and construction services, GIS Testing, electrical testing to different clients. As of October 2018, the company had an installed capacity of 10, 857 MW.
|Sectoral Index||Nifty Infra|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock price has been falling in sideways range in the last few months and was showing a lack of strength to sustain the upmove during this period.
- Presently, the stock price has placed near the Upper bound of a sideways range and based on historical price pattern we are expecting the price to fall off from here.
TECHNICAL OBSERVATIONS (DAILY)
- Witnessing Higher Tops and Higher Bottoms at Daily Charts.
- The stock seems to have broken out from its recent uptrend line.
- RSI (14) which crossed from overbought zone 70 levels, which indicates loss of buying momentum and a possible rise in a trend reversal.