Stock of the day : Buy Tata Power 200 PE For Target Rs.9 - Religare Broking
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Tata Power Ltd
* TATAPOWER has been gradually drifting lower after the breakdown from a distribution pattern.
* It has formed a fresh shorting pivot, after hovering in a narrow range around the resistance zone of 208 levels.
* Existence of moving average hurdle i.e. 20 EMA around 208 is further adding to the confirmation.
* We thus suggest creating fresh short positions through the Put options.
Technical Chart : Daily
Buy Tata Power 200 PE CMP: 4.90 Range: 3.5-4.5 SL: 2 Target: 9
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