Below Rs 167, NTPC can slip to Rs 135: Jai Bala

Below Rs 167, NTPC can slip to Rs 135, says Jai Bala, Chief Market Technician at cashthechaos.com.

Bala told CNBC-TV18, "In NTPC if you look at the decline from Rs 190-135 in technical parlance we call that as an impulsive decline and the ascent from Rs 135 has been a three step process. This is a classic corrective ascent and if the stock falls below last week’s low of Rs 167, this week I think the stock is headed for Rs 135 odd in the short to medium-term."
The company's trailing 12-month (TTM) EPS was at Rs 11.04 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 15.33. The latest book value of the company is Rs 94.12 per share. At current value, the price-to-book value of the company was 1.8. The dividend yield of the company was 2.25%.