NTPC can move up to Rs 180-182: Amit Gupta

NTPC can move up to Rs 180-182, says Amit Gupta, ICICI Direct.

Gupta told CNBC-TV18, "One can look at NTPC because if we are into this particular stable scenario and the price is not picking up okay that we can take it. But I think NTPC if you look from the last two months period price wise it hasn’t moved up, only we have seen is a time correction because since the month of July it hit the level of Rs 170. Now also it is trading at Rs 170 and almost two months have gone past."
He further added, "This is into a scenario where now eventually some shorts are getting closed and it can move up to Rs 180-182 kind of levels and it is very much possible that Rs 164-165 may not be breached because if you look at the cash buying that has happened in NTPC in the month of July that happened near Rs 164 levels only and we saw very hefty volumes around Rs 164. So I think that is going to be a critical support, you keep your stop loss there and go long in the stock."