⚡ Tata Power – Sideways Drift After Breakdown

🔶 1. Breakdown from Rising Wedge, Now Moving in a Range The stock broke down from an ascending structure near ₹450 and is now consolidating in a tight horizontal range (₹375–₹415). This box structure forms after a lower high, which keeps the near-term structure neutral to mildly bearish. 🔶 2. RSI Trendline Broken, but Struggling to Gain Momentum Post a long-term bearish divergence, RSI broke its downtrend and started forming higher lows, but is now hesitating below 55. Momentum has cooled off. The RSI is compressing within its own mini-range – suggesting indecision. 🔶 3. Volume Lower, Signaling Absence of Strong Institutional Activity Recent weeks show subdued volume, which typically aligns with sideways consolidations. Need a volume surge above ₹415 or a break below ₹375 for clarity. 🧠 Technical View “Wait for resolution of this sideways structure. A breakout above ₹415 may retest ₹450, while breakdown below ₹375 can trigger a fall toward ₹336–₹325.” Patience > Prediction in these zones. Let the range break. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.