Tata Power shares are currently priced at ₹489.45, reflecting a 1.40% increase from the previous trading session, where it closed at ₹482.70 on September 30, 2024. The stock has shown an intraday high of ₹489.00 and a low of ₹473.65 during the last trading day. The market capitalization of Tata Power stands at approximately ₹154,239 crore, with a 52-week high of ₹494.85 and a low of ₹230.75.
Main Points
- Trading Volume: On the last trading day, Tata Power recorded a trading volume of 6,873,38 shares on the BSE and over 15 million shares on the NSE.
- Market Trends: The stock has experienced fluctuations recently, with analysts noting a bearish signal based on moving averages and technical indicators. Despite this, Tata Power has shown strong performance over the past three years, with a return of approximately 219.51%, significantly outperforming the Nifty 100 index.
Tata Power’s stock shows a strong technical position:
- The stock is trading above its key moving averages, indicating bullish momentum.
- The Relative Strength Index (RSI) stands at 75.71, suggesting it may be overbought but still strong.
- Recent trading volume indicates healthy investor interest, with over 15 million shares traded on the NSE in the last session .
Given the current upward trend and market sentiment, analysts expect Tata Power to maintain its positive trajectory today. Key resistance levels are around ₹490, while support is seen near ₹473. If the stock breaks above the resistance, it could target the next psychological level of ₹500 in the near term.
Investors looking to price or trade Tata Power shares can consider the following steps:
- Open a Demat Account: To trade in shares, you will need to open a demat and trading account through a registered broker.
- Monitor Live Prices: Keep track of live share prices via stock market apps or financial news websites.
- Analyze Market Trends: Review technical indicators such as moving averages, P/E ratios (currently around 41.75) and market cap to gauge performance.
- Consider Analyst Recommendations: Analysts have mixed recommendations with some suggesting to hold or buy based on future growth potential in renewable energy sectors.
Current Market Sentiment
The overall sentiment for Tata Power remains cautiously optimistic as it continues to invest in renewable energy projects, aiming for significant capacity increases by 2025. However, investors should remain vigilant about market fluctuations and analyst forecasts when making investment decisions.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
