Power Space facing challenges - Tata power plunges

is showing a clear technical deterioration, with the stock slipping below its rising trendline support and now trading around ₹351–352. The breakdown is important as the broader power space has also started showing signs of weakening momentum, despite the sector retaining strong long-term structural demand drivers. India’s electricity demand remains structurally healthy, but near-term concerns around transmission constraints, renewable curtailment and uneven generation economics can create pressure on sector valuations. Technically, Tata Power has broken below the ascending support line that had been holding the corrective structure since early 2025, indicating increasing selling pressure. Sustaining below ₹350 could open further downside towards ₹340 and ₹330, while ₹365–370 becomes the immediate resistance zone. The bias remains bearish unless the stock reclaims the broken trendline with strength.