Tata Power Company Limited (TATAPOWER) Stock - Complete Technical Analysis - Sep 16, 2024

Tata Power Stock Analysis: Key Support & Resistance Levels, Technical Indicators & More

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Tata Power Company Limited (TATAPOWER) is currently trading at 443.35, which is about 5.87% below its 52-week high of 471.0 and approximately 92.09% above its 52-week low of 230.8. The stock is displaying a mixed technical outlook based on recent indicators.

Support and Resistance Levels: The stock has immediate support around the 428-436 range, where classic, Fibonacci, and Camarilla pivot points align. Resistance is observed near 469.4, with additional resistance at higher levels around 504.15 based on classic and Fibonacci pivots.

Technical Indicators:

MACD is showing positive momentum, indicating bullish sentiment.

RSI is in the neutral zone, suggesting that the stock is neither overbought nor oversold.

ADX is low, reflecting a weak trend, while DMI lines are close together, showing indecision.

Stochastic Oscillator is in the overbought territory, indicating potential for a pullback.

Awesome Oscillator is positive, supporting a bullish outlook.

Moving Averages:

Exponential Moving Averages (EMAs) indicate short-term support around 430.37 to 434.82, while longer-term EMAs suggest overall bullishness.

Simple Moving Averages (SMAs) are in alignment with current prices, providing support around 426 to 434 levels.

Chart Patterns: The recent Doji and Spinning Top candlesticks suggest indecision in the market. This could indicate a potential reversal or consolidation period.

Average True Range (ATR): The ATR is high, signaling increased volatility, which suggests that traders should be prepared for larger price swings.

Overall, Tata Power is in a phase of consolidation with potential bullish tendencies. Traders should monitor key support and resistance levels closely and be cautious of the current indecisive chart patterns.