Buy Tata Power in dip at 69.60-68.50 with stop loss below 66.70 for target of 74. Momentum is supported by high volumes. Upside is capped at 75-76 till the time resistance line poses challenge for bulls.
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
These are cash levels...consecutively take short position in future