Technical Analysis of TATAPOWER (PART II)

is currently in a downtrend across both daily and weekly time frames, struggling to reclaim key resistance levels. On the daily chart, the stock is trading below the 9-day EMA (₹348.26), 70-day EMA (₹377.45), and 100-day EMA (₹392.65), signaling bearish momentum. Strong resistance is visible around ₹372 and ₹392, aligning with the moving averages, while immediate support lies at ₹340.80 and ₹321.85. A decisive break above ₹372 could trigger a short-term reversal, but failure to sustain above ₹351-355 may push the stock toward ₹335-321 in the near term. The RSI on the daily chart is around 48.34, suggesting a neutral zone with no immediate signs of an overbought or oversold condition. On the weekly chart, Tata Power remains in a corrective phase, consolidating near the ₹340-350 zone, where both the 100-week EMA (₹347.40) and 9-week EMA (₹357.10) are converging. The 70-week EMA at ₹397.45 remains a major resistance, and only a breakout above ₹402-413 would signal a potential trend reversal. The RSI on the weekly timeframe is around 40.58, reflecting weak buying interest. If ₹321 is breached, the next strong demand zone is around ₹276.70, a critical level to watch. Conversely, reclaiming ₹372 and sustaining above it could shift momentum in favor of bulls. For now, the stock is in a wait-and-watch zone, requiring a breakout or breakdown confirmation before a directional trade can be initiated. I have attached the daily chart of for your reference. Please direct message me, as I won’t be able to respond to each comment individually. Follow me for more such updates, Thank You!