Ambareesh Baliga, Market Expert advises traders to buy NTPC around Rs 156-157.
Baliga told CNBC-TV18, “NTPC numbers were slightly better than expectation. It has moved again recently well from those Rs 151-152 levels to Rs 165 after the correction."
"One should look at slightly lower levels to pick it up closer to Rs 156-157 because over the next year-year and a half I see levels of about Rs 220-230 for that stock."
On Jan 21, NTPC closed at Rs 161.75, down Rs 2.40, or 1.46%. It has touched an intraday high of Rs 167.25 and an intraday low of Rs 160.80.
It trades 15% below its 52-week high and 16.41% above its 52-week low.
Market capitalisation stands at Rs 133,370.39 crore.