Tata Power shares are currently facing a period of scrutiny as the stock has yielded negative returns for investors over the past two years, trading close to its 52-week low of Rs 342.35, reached on January 27, 2026. On July 17, 2026, the stock was trading flat at Rs 376.50, with the firm's market capitalization standing at Rs 1.20 lakh crore.
Mixed Technical Outlook for Tata Power
The technical indicators for Tata Power shares present a divergent picture, with analysts offering both optimistic and cautious perspectives on its future trajectory. The stock is currently trading below its short-term and long-term simple moving averages, which generally signals a bearish trend.
Bullish Projections from Anand Rathi and Choice Equity
Jigar Patel, an analyst from Anand Rathi, maintains a positive outlook for Tata Power shares. He identifies a crucial support level at Rs 370 and resistance at Rs 384. According to Patel, a decisive breakthrough above Rs 384 could pave the way for an upward movement towards Rs 390. He anticipates the stock will trade within the Rs 370-Rs 390 range in the short term.
Sachin Gupta, VP – Technical Research at Choice Equity Broking, also expresses a constructive view. Gupta notes that the stock is approaching a significant resistance zone between Rs 385 and Rs 388, which aligns with its 20-day Exponential Moving Average (EMA). He suggests that a sustained close above this barrier could ignite new buying momentum and reinforce a bullish sentiment. The Relative Strength Index (RSI) showing a rebound from lower levels indicates a potential fading of bearish pressure and a resurgence of buyer interest. On the weekly chart, the stock remains above its long-term support, suggesting the broader bullish trend is still intact despite recent consolidation. Gupta predicts that a breakout above the Rs 385-Rs 388 resistance could lead to an upside target of Rs 410-Rs 425 in the near term, with Rs 370 serving as a critical support level. He advises traders to consider accumulating the stock on declines, maintaining disciplined risk management, as long as it holds above this support zone.
Bearish Warning from Bonanza
In contrast, Virat Jagad, Sr. Technical Research Analyst at Bonanza, offers a more cautious assessment. Jagad highlights that Tata Power Company exhibits bearish price action, characterized by a lower-low sequence and trading below all major short- and medium-term EMAs. This is further supported by declining trading volumes and a weak RSI hovering around 36. Given the persistent negative momentum, Jagad advises against fresh entry into the stock at current levels. For investors holding existing long positions, he recommends a strict stop-loss at Rs 368 to mitigate further downside risk.