Technical Pick - 30/11/2023

Welcome to our weekly Technical Analysis Picks, where we will dive into the world of financial markets to identify promising trading opportunities that are expected to perform well over next few days. Through the lens of technical analysis, we'll analyze charts, patterns, and key indicators to provide you with valuable insights into potential market winners.

Disc. - Not an Investment Advice, to trade with discretion.

Stock - Tata Power

Sector - Power and Energy

Market Cap - 87,377 Cr

CMP - 273

P/E - 25.6 D/E - 1.74; MCap/Sales - 1.52; P/B - 2.9

Products / Services - Power Distribution and Generation

Transmission & Distribution - 56.7%

Generation - 29.8%

Renewables - 12.9%

Others - 0.6%

Latest Quarterly Result -

​Sr No (in CRs)	YoY Growth %	Sep 2023	Jun 2023
Revenue	12.17	15,738	15,213
PAT	-10.8	1,017	1,141
EPS	-9.85	2.74	3.04

Technical Analysis -

Technical Analysis - Flag and Pole pattern with potential breakout, it can also be seen as a cup and handle breakout (in that case, there's a high possibility of forming a complex cup and handle with 2 handles)

Target Price - 378 (Calculated through the depth of the handle)

Risks / Stop Loss - 238

Reward/Risk - 2.72