Tata Power Share Prices are struck in a Broad Range of 250 to 200. Respective Support Zone is at 206 and Respective Resistance Zone is at 252.
Prices must clearly break either one of these zones to trend. As long prices are struggling to break the boundary, we are likely to be struck in the Range bound Price action.
After witnessing some good Buying Pressure, Share Prices are testing the Resistance Zone now.
Take a look at the Price Action Analysis of 5h Chart
Tata Power Stock Prices – Price Action in 5h Chart
Volume is pretty low compared to the relative history, which technically means not much trading activity or order flow is taking place on the stock.
We need to see some improvements in the Volume and a strong breakout in either one of the direction for the Market Structure to change into a Trend.
Traders should keep an eye on the Price Action of 5h Chart and focus on the Volume Behavior before taking any decisions.
