Shabbir Kayyumi
NTPC seems bottomed out at the levels Rs 149 marks from that levels it gave breakout of double bottom, surged higher. Currently, Inverse Head & Shoulder is emerging on daily chart in which right shoulder is still pending. But from current level, risk and reward ratio is looking favorable.
Indicators and oscillator are also conducive for the price action. One can take long position around Rs 162-160 with stop loss of Rs 149 for the target of Rs 186 levels.
Disclaimer: The author is Head - Technical & Derivative Research, Narnolia Financial Advisors. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
