Tata Power, Adani Power shares: Buy now or wait? | Daily Calls on BTTV

Anshul Jain, Head of Research at Lakshmishree Investment & Securities, said on BTTV's Daily Calls that benchmark Nifty50 would need a decisive move above 23,555 level to indicate a possible bear-trap formation. Sharing his stock-specific views on Tata Power Company Ltd and Adani Power Ltd, the market expert on Wednesday outlined key levels investors should watch.

On Tata Power, Jain remained bullish despite the recent correction following quarterly earnings. "The stock touched an all-time high of Rs 464.80 last month. It witnessed a pullback after the results. A close above Rs 417 can revive momentum and potentially take the stock towards Rs 493," he said.

He added that long-term investors can continue to hold the counter, though short-term traders may avoid aggressive positions due to limited trading moves in the stock.

Speaking on Adani Power, Jain advised a cautious short-term approach. "The stock may witness a pullback towards Rs 180 level. Investors can consider buying around Rs 180 or once the stock regains its 50-day moving average," he stated.

Meanwhile, Tata Power shares slipped 3.36 per cent to close at Rs 404.35, while Adani Power moved up 2.05 per cent to Rs 213.90 level.

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(DISCLAIMER: The views/advice/suggestions expressed in the video are solely by market analysts & investment experts. Please consult your investment advisers before making any financial decisions.)