Tata Power share are up by 0.32%, Nifty down by -0.08%

At 05 Sep 11:08 today, Tata Power shares are trading at price ₹422, 0.32% up from the previous closing price. Sensex is trading at ₹82270.5, down by -0.1%. The stock has hit a high of ₹423.4 and a low of ₹419.3 during the day.

On the technical front, the stock is trading above the 300 days SMA & lower than the 5,10,20,50,100 day SMA. The stock will have support at 300 days SMA & face resistance at 5,10,20,50,100 days SMA.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹427.68, ₹433.72, & ₹437.73, whereas it has key support levels at ₹417.63, ₹413.62, & ₹407.58.

Till 11 AM today, the volume traded on NSE & BSE for Tata Power was -36.21% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock's continued downtrend suggests a bearish trend is underway.

From a fundamental analysis perspective, the company has a ROE of 12.09% .The current P/E of the stock is at 36.48 .

The median 1-year forecasted upside in this share is at 3.81% with a target price of ₹405.92631579.

The company has a 46.86% promoter holding, 7.90% MF holding, & 9.50% FII holding as per filings in the june quarter.

The MF holding has decreased from 9.61% in march to 7.90% in june.

The FII holding has increased from 9.44% in march to 9.50% in june quarter.

Tata Power share price has gained 0.32% today, currently at ₹422, while its peers such as are in the red. Overall, benchmark indices Nifty & Sensex are down -0.08% & -0.1% each respectively.