TORNTPOWER - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.6

Here’s a detailed technical analysis of Torrent Power Ltd (TORNTPOWER)

📊 Trend Overview

Current Trend: The stock is in a downtrend, showing signs of short-term consolidation near support.

Price Action: Trading at ₹1,284, below both the 50-DMA (₹1,315) and 200-DMA (₹1,403), indicating sustained bearish pressure.

📈 Momentum Indicators

RSI (49.3): Neutral zone, suggesting indecision. Not oversold, but lacks bullish momentum.

MACD (-14.1): Deeply negative, confirming bearish sentiment and absence of upward momentum.

Volume: Current volume (8.62 lakh) is significantly above the 1-week average (5.40 lakh), indicating increased activity—possibly accumulation near support.

📉 Moving Averages

Indicator Value (₹) Signal

50-DMA 1,315 Resistance

200-DMA 1,403 Resistance

Current Price 1,284 Below both DMAs

📌 Bollinger Bands

Price is near the lower band, suggesting oversold conditions and potential for a technical bounce.

Watch for a move above ₹1,300 with volume to confirm reversal.

🧭 Support & Resistance Zones

Immediate Support: ₹1,270–₹1,280 zone

Major Support: ₹1,207 (52-week low)

Immediate Resistance: ₹1,315 (50-DMA), then ₹1,350

Major Resistance: ₹1,400–₹1,420 (200-DMA), then ₹1,500

🎯 Entry & Exit Zones

Optimal Entry: ₹1,270–₹1,285 (if price stabilizes and MACD flattens)

Exit Zone: ₹1,350–₹1,400 (first resistance), ₹1,500+ if momentum builds

🔍 Conclusion

TORNTPOWER is consolidating near support after a steep decline from its high of ₹2,037.

RSI and MACD show weak momentum, but volume spike suggests potential accumulation.

A breakout above ₹1,315 with volume and MACD crossover could signal short-term reversal.

Until then, the stock remains in a neutral-to-bearish phase.

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