NTPC, Tata Power warm-up on Delhi cold wave as peak power demand shoots-up; stocks to sprint from here

Power stocks: Delhi’s power demand was at season’s highest on Monday, December 26. 

The highest peak power demand comes as the city experiences falling temperature. Delhi's peak power demand this year is more than the peak power demand clocked in December 2021 and December 2020.

Tata Power stock jumped over 1 per cent on the NSE around 12 pm and was trading at Rs 206.40 apiece which was 1.60 per cent on the upside. 

Meanwhile, another power stock NTPC traded flat at Rs 165.45 per share around this time. 

Also Read:Sanjiv Bhasin stocks, strategy today: Buy Tata Steel, SAIL, L&T shares - check price targets 

Expert call on Tata Power 

Zee Business Panelist Sumeet Bagadia said that there is pressure on the stock from the upper level. He added, the scrip has corrected almost 10 per cent and the stock has made a support at Rs 190 to Rs 195, until this support breaks the scrip won’t weaken. 

Executive Director and Head of Technical Research, Choice, Sumeet Bagadia recommended to buy on dip at Rs 198 to Rs 200 and if bought he advised to hold positions.

He added that stock can see good moves after Rs 208/210 levels after that the stock can see an upside of Rs 220 to Rs 230. 

Expert call on NTPC 

Another Zee Business Panelist Rakesh Bansal said that the NTPC scrip is trading around a good support and had seen a technical support break on Friday. 

He added that technically the stock is trading at investment levels with a good base of Rs 151/152. 

Bansal recommended buying on delivery and he added that the scrip can see Rs 174/175 levels. 

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