Tata power stock tips 2014
Tata power stock short term technical view
Tata power stock on last trading session closed at 97.55 with loss. On daily chart stock price trend and momentum both are strong bullish. Stock is trading way above short-term averages with bullish divergences on indicators. From short-term view, stock above 82 rupee will remain buy on dips. While for now on upside 102 and 110 are strong resistances while on downside 95 and 90 rupees are strong support zones. Daily chart indicators are bullish but overbought so expect correction ahead.
Traders above 82 keep buy on dips view for target 102-110 on upside but for now fresh buying must be avoided, as risk reward is not favorable. Those brought stock on lower levels must trail stop loss below 90 rupee to cap profit.
Tata power stock medium term technical view
Tata power stock on weekly chart is showing strong gains in this week. Weekly chart price trend and momentum both are strong bullish. From medium term view, stock achieved its target of 98 rupee and above it, next targets as well as strong resistances will be at 113 and then 130. This can be expected in next 6 to 12 months period. On downside, 80 rupee is major average support and above it, investors must keep buy and accumulate view for stock. Below it, 64 rupee will be next support zone. For now next major move will happen if stock gives weekly closing above 98 rupee on strong price action and volume.
Tata power stock long term technical view
Tata power stock on monthly chart is showing huge gains in month of May. Monthly chart price trend and momentum both are strong bullish. On chart, 112 and 143 are strong resistance levels as well as target zones for next 12 to 24 months period. On downside, 75 rupee was breakout level and major average support. Investors above this level must keep buy and accumulate view. Stock in last 6 months had given 27% returns to investors and outperforming the market. From long term view, 45-50 rupee was best buy zone, which was last seen in 2008 crash while most undervalued zone was 15-20 rupees, which was last seen in 2003.
Tata power company description
Tata Power Company Limited is an integrated power company. The Company operates in three segments: Power, Coal and Other. Power segment consists of Generation, Transmission, Distribution and Trading of Electricity. Coal segment consists of mining and trading. Others segment consists of defense Engineering, Solar Equipment, Project Contracts/Infrastructure Management Services, Coal Bed Methane, Investment, Shipping and Property Development. The Company’s subsidiaries include Tata Power Solar Systems Limited, Af-Taab Investment Co. Limited, Chemical Terminal Trombay Ltd., Tata Power Trading Co. Ltd., Powerlinks Transmission Ltd., NELCO Ltd., Tata Power Delhi Distribution Ltd., Coastal Gujarat Power Ltd., Bhira Investments Ltd., Bhivpuri Investments Ltd. and Khopoli Investments Ltd. In February 2014, the Company’s subsidiary Tata Power Renewable Energy Limited completed acquisition of 100% shareholding in AES Saurashtra Windfarms Pvt Ltd.