Tata Power has seen a steady 10 percent upmove in the last 10 days, outperforming the benchmarks like NSE 500 for that matter, backed by good volumes.
In terms of key support, it's 20-day exponential moving average (EMA) is at Rs 90.8 -- 10 percent from its current market levels that is 100 per share. Remember, this is a 3-year high; Tata Power still hasn’t gone to its fresh life high. So watch out for that.
However, the strides it has made in its distribution and renewals business is helping. Also, the deleveraging part has come into play in favour of the company as has been the case for many other power companies in the past.
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