Torrent Power Futures stock of the view

 

Torrent Power Futures based on the chart you provided, including target, stop loss, technical view, fundamental view, and support/resistance levels:

📊 Technical Analysis (Chart-based) 🔹 Current Price: ₹1,473.90 🔹 Chart Timeframe: 45-Minute 🔹 Range: Sideways channel between ₹1,365 to ₹1,518 🔧 Key Levels Type Price Level (Approx) Remarks Immediate Resistance ₹1,518 Fibonacci 0% Level & top of range Immediate Support ₹1,394 Fibonacci 50% level Strong Support ₹1,365 Fibonacci 61.8% + previous lows Breakout Target ₹1,560+ If breakout above ₹1,518 sustains Stop Loss (Swing) ₹1,445–1,430 Below recent swing low & SMA line

📉 Indicators Used: RSI (14): Around 55–60; Neutral to slightly bullish

Stochastic RSI: Showing a recent bullish crossover

Volume: Not shown, but price action indicates accumulation near ₹1,395–1,400

🎯 Trade Plan Direction Entry Range Target Stop Loss Buy ₹1,470–1,475 ₹1,518 → ₹1,560 ₹1,440–1,430 Sell (if rejected) ₹1,515–1,520 ₹1,440 → ₹1,395 ₹1,530+

🧠 Fundamental View (Torrent Power) Business: Power generation & distribution; strong presence in Gujarat, Maharashtra.

Strengths:

Consistent cash flow

Strategic tie-ups in renewable energy

Expansion in distribution license areas

Risks:

Regulated business margins

Dependency on coal prices, weather, and regulatory changes

🔍 Latest Updates (as of June 2025): Recent results show stable revenue growth and improved margins

Focus on solar & renewable sector is a long-term positive

Likely to benefit from rising energy demand

🔐 Conclusion & Strategy Technically, the stock is in a strong accumulation zone with a resistance near ₹1,518.

A breakout above ₹1,518 with volume can push it to ₹1,560–1,580.

If price fails to cross ₹1,518, expect consolidation or a dip towards ₹1,440/₹1,395.

Fundamentally, the stock remains strong, making buy-on-dips a favorable strategy.