Shares of Tata Power Company NSE -0.15 % Ltd. slipped 2.04 per cent to Rs 67.35 in Wednesday’s trade. It hit a high of Rs 69.7 and low of Rs 66.9 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 47.31, while the 50-DMA was at Rs 55.77. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
The stock traded above the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bullish bias on the counter.
