One can take long position around Rs 162-160 with stop loss of Rs 149 for the target of Rs 186 levels, says Shabbir Kayyumi of Narnolia Financial Advisors.
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.
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