Weekly Tech Picks : Tata Power Company Limited By Axis Securities
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Weekly Tech Picks : Tata Power Company Limited
Buy Range: 103-101 ; CMP: 104 ; Stop loss: 95
* On the daily chart, the stock has strongly bounced from its earlier breakout zone of (94-96) indicating strong come back of bulls.
* This buying was observed from its 50% Fibonacci Retracement support of 96 which also reconfirm bullish bias
* On the weekly chart, rising volumes activity indicate increased participation near major support zone of 96-97 levels
* The weekly strength indicator RSI has bounced from the 50 mark which supports rising strength as well as momentum.
* The above analysis indicate an upside of 116-120 levels.
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