NTPC has support at Rs 172: Gujral

Technical Analyst, Ashwani Gujral is of the view that NTPC has support at Rs 172 and could head back up to Rs 230.

Gujral told CNBC-TV18, "NTPC is one of the stronger power stocks and it’s already at its 200 EMA whereas the markets still has some way to go. It’s got support now at Rs 172 and could head back up to Rs 230."

He further added, "IDFC is a weak kind of a stock and Rs 88-90 is a strong support; till that holds up there is a good possibility that it could get back above Rs 100 and go up to Rs 116-118. But that is a much weaker stock than probably NTPC."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the stock/sector.