Torrent Power Limited

Torrent Power Limited

Torrent Power Limited increases and reaches a record high, it appears to be a wonderful long-term investment.

Please take a moment to review and understand the daily chart for Torrent Power Limited. The chart indicates that Torrent Power Limited has done well so far, is a prudent investment in the 1640–1660 zone, and has plenty of space to develop going forward.

Please see the daily chart for Torrent Power Limited. The stock broke out of the 1640–1660 zone and is now trading above horizontal resistance and gaining significantly. The graphic shows that Torrent Power Limited is currently in high demand at 1750. The range of the projected growth period, which is 1980 to 2000, is shown in the chart below. 

• After making a significant breakthrough in 1640 and 1660, Torrent Power Limited has grown and now offers great long-term investment possibilities.
• Torrent Power Limited is positioned nicely on the chart and has room to expand, possibly moving up to positions 1980 and 2000.
• The best time to buy this stock right now is between 1640 and 1660, as the risk-reward ratio is appropriate for cash transactions.
• With a target price range of 1980 to 2000, the chart indicates that the stock has broken out of an ascending triangle pattern.

 

Please refer to the Torrent Power Limited daily chart for your reference. Demand is seen in the price range of 1640–1660 on the daily chart, along with a breakout and horizontal resistance. This high demand causes the stock to rise.

The stock reached a new high today, suggesting that now is an excellent moment to buy at the current price. Therefore, keep an eye out for the horizontal resistance and its break. As of now, the stock has maintained the rising trend seen on the chart, reaching its objectives in 1980 and 2000.  

Torrent Power Limited was born out of the rising triangle; the pattern's latest targets fall between 1640 and 1660. The ascending triangle is a chart pattern used in technical analysis. Price variations result in a rising trend line and a horizontal line at the swing high and low, respectively. These two lines create a triangle.

Investors may be searching for long-term purchasing opportunities in the 1640–1660 range due to the stock's high demand. They might also profit from any stock market corrections that push prices back up to the 1980–2000 range and have a favorable risk–reward profile. Take advantage of any downturn to invest in this company as it has a lot of room to develop.

Investors may buy the stock piecemeal with cash, setting a stop loss around 1495, and targeting levels between 1980 and 2000.

If price volatility is low before a significant increase, a quick climb and target hit could drive the stock or instrument to high volume and upside. Investors and traders often look for a pattern called a Volatility Contraction Pattern (VCP). For additional information on VCP patterns, please visit our website and download the app from the Google Play Store. We also show that the pattern identification is quite accurate.

The daily chart of Torrent Power Limited displays resistance and support. The spot chart shows all of the levels. 

Torrent Power Limited	Support	Resistance
Level 1	1640	1980
Level 2	1500	2000

Company Profile: An Indian energy and power corporation called Torrent Power is involved in the production, distribution, and transmission of power as well as the manufacturing and supply of power cables. In its distribution areas, which include Ahmedabad, Gandhinagar, Surat, Dahej Special Investment Region, and Dholera Special Investment Region in Gujarat; Dadra and Nagar Haveli and Daman and Diu UT; Bhiwandi, Shil, Mumbra, and Kalwa areas of Mumbai Metropolitan Region in Maharashtra; and Agra in Uttar Pradesh, the company provides electricity to over 38.5 lakh customers annually. The T&D losses in the company's license areas are among the lowest in the nation.

After taking over and effectively turning around Mahendra Electricals, an underperforming power cable firm, Torrent Group renamed it as "Torrent Cables Ltd." (which is now integrated with Torrent Power as of 1 April 2014). The purchases of The Surat Electricity Company Ltd. and The Ahmedabad Electricity Company Ltd., two of India's oldest utilities, were the high points of Torrent's entry into power, nevertheless. The Ahmedabad Electricity firm was fully acquired by the firm in 1997 when it acquired the Gujarat government's 28.89% interest. With this acquisition, Torrent Power AEC Limited was established.

 

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