NTPC may slip to Rs 125-130: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "National Thermal Power Corporation (NTPC) seems to be in a very bad shape. Right from 2009 if you look at the chart from Rs 236 or Rs 240 levels it has been on consistent downtrend. Every rise which NTPC saw on a monthly basis was sold into. If you look at charts there was hardly a case where in a month or two it made a fresh swing high and that is a bad sign for the stock and also signaling that it is continuing that three-year downtrend."

"It will continue to drift downwards and probably Rs 125-130 is what you can look at in the next couple of weeks. Remember that this is low-beta stocks, so the pace of going down is slightly slower as compared to any other high-beta stock," Bothra said.