The Indian stock market is riding a wave of optimism, with the Nifty nearing 26,000. While banking stocks have been in the spotlight, the power sector is also showing strength. Here are three power stocks that are breaking out and could see big gains:
NTPC
NTPC, India’s largest power company, plays a vital role in meeting the country’s energy needs. Known for its coal-based power plants and push into renewable energy, NTPC is a key player in the energy sector.
On its weekly chart, NTPC shows an upward trend, breaking past ₹390 and retesting this level before bouncing back. With ₹400 now acting as strong support, the stock is poised for more gains.
Tata Power
Tata Power has a diverse portfolio, including traditional power and renewables. It’s also expanding into solar power and electric vehicle charging stations, boosting its future growth.
Tata Power recently broke out of a key resistance level on the point-and-figure chart, signaling a bullish trend. If the stock stays above ₹425, it could continue its upward momentum.
JSW Energy
JSW Energy operates in thermal, hydro, and renewable energy. With a focus on expanding its renewable energy portfolio, JSW Energy is set to play a significant role in India’s green energy future.
JSW Energy has broken past a critical resistance level, turning it into support. This signals a potential bullish phase, with the stock ready to hit new highs as India’s power sector gains strength.
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