Investment grade stock.
Not going with short term movement, too many positives.
1) Adani price revision at Mundra will mean they too get the revision to not make a loss.
2) Tata Power owns a defence play which in time will get brought out giving them more free cash.
3) So many assets available for peanuts to grow.
4) Tata Power has a huge green energy part...
Conditional sell(risky as falling wedge pattern):
A major breakdown happened at 68-68.5 level. Watch for the retracement
sell at 68-68.5
target 63,61,59
sl 71
These are cash levels...consecutively take short position in future
The stock was moving sideways entirely for the month of November between 74 and 78 and finally broken the resistance of 78 at the of November with very strong volume.
With the price break out after consolidation and the ADX increasing, the stock has a very high probability to go up.
CMP: 79.45
Target 1: 89 (Profit : 12%)
Target 2: 100 (Profit: 25.85%)
SL : 72.5...
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NSE:TATAPOWER
![TATAPOWER: [Positional] Tata Power Short Covering](https://s3.tradingview.com/w/wTuJTCd5_mid.png "[Positional] Tata Power Short Covering")
