After reversal of trend from 89.70 on 12 April 2021, Tata power has shown a consistent rise in its stock price. Applying Fibonacci retracement on this trend, strong support is formed at 120.70 (0.786 mark on fibonacci retracement). As per the current trend line, the stock prices should continue to follow this trend at least till 15th Nov 2021, which is the day of earnings being released, until a target of 145.35. Even after that, the stock prices could continue to rise till 162.65 by the early months of 2022, before we experience any trend reversals.