Torrent Power Limited (TORNTPOWER)

experienced a massive vertical rally in early January, followed by an equally sharp "V-shaped" retracement. It is currently in a volatile consolidation phase. The price is hovering around the short-term moving averages 10 and 20 EMA which are beginning to flatten. This indicates a loss of momentum in both directions. The most recent candle is a small bullish one, showing price rejection at lower levels (₹1,320–₹1,330). Key support lies at ₹1,320. On the upside, the stock faces a supply zone at ₹1,411. The stock needs to stabilize. A move above ₹1,380 could reignite bullish sentiment, while a break below the recent cluster of wicks could lead to a deeper correction toward ₹1,280.