Electric Utilities stocks-tata power share price support 62-63

Tata power share price today closed at 64 with almost 3% drop. Today stock was a top loser in nifty 50. On the daily chart, stock price trend and momentum both are bearish. A stock trading below major short term averages with strong bearish price as well as indicators patterns. Today stock given breakdown below 20 days trend channel. On the downside, 62-63 is strong support level of 50 days trend channel. Daily chart RSI is heading towards 30. For traders and medium term investors, 60-63 is best buying zone with stop loss for upside targets of 69 to 74.
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Pramod Baviskar

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