Dear Chetan,
It's better to use Historical database for this purpose (to save at any changes). Unfortunately it's not possible to save into Event log for every changes. It's possible to setup only 5 level (HiHi, Hi, Lo, LoLo and Normal) for saving values. You can send reports only by using E-mail:
teslascada.com/HTML/report-library.html by using reportbysendemail function.
You can setup this script by type OnDataChange and inside this script check Tags.SystemCurrentDateTimeHour. And send E-mail every hour when hour is changed.
Best regards,
Ruslan