Stock name: Tata Power
Pattern: Broke the crucial support
Time frame: Daily
Observation: Tata power has been trading near its support zone for the last couple of days. It can be observed that the stock was trading in a range and eventually stock gave a breakdown on 20th June 2022 from its crucial support levels.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
News for the day:
1) France-based global automotive supplier Valeo, electric three-wheeler manufacturer Atul Greentech, and swappable battery service provider Honda (Honda Powerpack Energy) have signed a memorandum of understanding (MoU) for the electrification of three-wheelers in the country. The stock of Atul auto ltd shot up ~6% post the announcement of the news.
2) GE steam power has signed a USD 165 million contract with Bharat heavy electricals Limited (BHEL) to supply three nuclear steam turbines. The stock surged almost 3% intraday.
3) KEC International’s share price increased more than 5 percent in early trade on June 21 after the company secured new orders of Rs 1,092 crore across its various businesses across projects in India, the Middle East and the Americas.