Technical Outlook & Trading Strategy:-
The Tata Power has seen a sharp fall from the highs of Rs 133 on 5th July 2011 to the lows of Rs 93.05 Levels.
On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again on dips up to Rs 99.5—Rs 100 levels with a stop loss placed below Rs 97.8 levels for targets of Rs 107 / Rs 110 levels.
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