TATA POWER :
Stock is in downtrend since last one month & shows no sign of any kind of positive trend on weekly charts. All important technical Indicators are in negative zone. However on daily charts stock has formed a bullish harami pattern in last trading session which indicates a small bounce. As most of the moving averages are in range of 81 to 83.50 its easy to say that stock will face resistance in this range. Traders can add for targets of 81.50-82 to 83.50-84 while support exists near 79.25-78.If stock trades & sustains above 84.50 we might see a sharp rally towards 88 & above.
