The Tata Power Company Limited Stock Forecast

Green day on Friday for The Tata Power Company Limited
(Updated on May 10, 2024)

TATAPOWER.BO Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Tata Power Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹436.94 and ₹418.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -9.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for The Tata Power Company Limited stock

The Tata Power Company Limited finds support from accumulated volume at ₹413.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹14.20 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 3.68%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TATAPOWER.BO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect The Tata Power Company Limited to open at ₹412.35, and during the day (based on 14 day Average True Range), to move between ₹401.47 and ₹428.03, which gives a possible trading interval of +/-₹13.28 (+/-3.20%) up or down from last closing price. If The Tata Power Company Limited takes out the full calculated possible swing range there will be an estimated 6.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹413.65 (0.27%) than the resistance at ₹424.95 (2.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is The Tata Power Company Limited stock A Buy?

The The Tata Power Company Limited stock holds several negative signals and despite the positive trend, we believe The Tata Power Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.007 Sell Candidate Unchanged

Predicted Opening Price for The Tata Power Company Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.