Tata Power’s stock is holding steady above its 200-day EMA, with key resistance at ₹402, according to the analyst. A break above this level could push the stock towards ₹408, ₹415, and ₹425, while support is seen near ₹390.
Tata Power’s stock demonstrates technical strength by holding above its 200-day exponential moving average (EMA), according to SEBI-registered analyst Lalit Mundhra.
At the time of writing, Tata Power shares were trading at ₹395.45, down 0.38% or ₹1.5.
The stock price stays close to its anchored volume weighted average price (AVWAP) level, which is a significant support or resistance point for trading movements.
Mundhra recognized ₹402 as a vital resistance zone, which matches the 61.8% Fibonacci retracement point from the stock's previous significant price movement.
The analyst said Tata Power’s stock price breaking above ₹402 on shorter time scales might lead to additional upward price movements.
The analyst pinpointed three future target levels at ₹408, ₹415, and ₹425, which could act as key areas to book profits or face resistance.
Should the stock face any pullbacks, it may find support at ₹390 to provide a protective buffer, Mundhra said.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
The stock has risen 0.8% so far in 2025.
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