NTPC ltd on a daily chart stock price is making
higher high pattern, with increase in volumes. Also we witnessed stock price
was trading below 20 DMA from last 30 trading session, but from last two
trading session stock price has closed above the same, indicate stock is well
placed above the support level. Momentum oscillator RSI having more room left
on upside, which add more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs.152 for the target of Rs. 164 levels, with Rs 147 stop
loss on closing basis.
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