Torrent Power share price rebounds 10% in 7 sessions; analyst sees further 14.5% upside in a month

Torrent Power, a leading integrated power utility, has seen its share price recover, gaining 10.24% over seven sessions to ₹1309. The rise offered brief relief to shareholders after the stock faced significant pressure in recent months, having closed lower over the past three months.

While the stock has rebounded, analysts expect it to maintain momentum and potentially scale to ₹1,500, a level not seen since May 2025.

Hardik Matalia, Derivative Analyst at Choice Equity Broking Private Limited, noted that the stock has shown a strong rebound from key support levels where demand had previously emerged on the weekly timeframe.

Additionally, Hardik Matalia said the stock has formed a double-bottom pattern supported by significant volume, suggesting strong accumulation and renewed bullish sentiment.

Such technical setups, Hardik notes, typically offer high-probability entry opportunities for medium- to long-term investors, especially when supported by favorable price structure and volume dynamics.

Technically, Torrent Power is trading above its 20-day and 50-day EMAs, which now act as immediate support levels. Momentum indicators are also aligned with the bullish view. RSI is currently at 62.30 and trending upward on the daily timeframe, indicating strengthening bullish momentum and increasing buying interest.

"Based on these technical triggers, we recommend a buy on Torrent Power at the current market price of ₹1,315, with a stop loss at ₹1,225 and a target of ₹1,500, making it a strong medium- to long-term investment candidate," said Hardik Matalia.

The target price indicates an upside potential of 14.5% from the stock's recent closing level.

Torrent Power share price trend

Though the stock made a recovery in October, gaining 7.45% so far, it has remained an underperformer, having lost 12% of its value, impacted by the sustained drop between July and September, during which it fell 17%.

If the stock continues to remain under pressure in the coming months, it will mark its first annual decline in two years. In terms of long-term performance, the stock delivered a massive 174% gain over three years and 340% over a five-year period.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.