NTPC may head lower, buy Ceat: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "NTPC looks pretty weak. In fact the way it has reacted, it suggests that the stock is headed for further lower levels, at least a test of its 200-day exponential moving average which is about Rs 132.90 or Rs 132.80. That is the target and you put a stop loss above Rs 139.25. In NTPC, the way the volumes had been, of course it was a clearing day, so volumes are generally higher. However, still it is weak and it is headed down." "If you are a technical analyst, you can’t do anything in Ceat but give it a buy because on a day like yesterday, it showed very high volume and showed lot of strength. It shows that there is enough momentum, enough head room left for it to go up. So, I have kept a target of Rs 1,229. Once Ceat gets going, for it a few percentage points are not very difficult and I have put a stop loss at Rs 1,142," he said.