- Profile:
Tata Power gave a good result for Q1FY23, and net profit increased by around 80%.
It has signed a contract to build Indias' largest floating solar power project of 101.6MWp in Kerala.
It has also signed an MOU with Hyundai to install Tata Power EZ Charge fast chargers at their 34 dealerships and commission home chargers for EV Owners.
- Technical View:
The stock has been analyzed on a Daily Timeframe with EMA30, Volume, and RSI as indicators. The stock has given a breakout from Cup & Handle pattern and is well positioned to achieve the target of 270, which can be derived from the distance between the lowest point of the Cup and the resistance line. The stock has given a clean breakout with increasing volume and, looking at the RSI, one can tell that bulls are well positioned as it is near 60.
P.S: This is only for Educational purpose. Please consult your financial advisor before taking any trade.
Do let me know which other stocks would you like to analyze.
Let's learn together! :)
