NSE:NTPC NTPC (National Thermal Power Corporation) Ltd and its affiliated companies are mainly responsible for producing and distributing large amounts of electricity to state power utilities. The group also offers consultation, project management and supervision, energy trading, and exploration of oil and gas as well as coal mining. The company's power plants...
observations:: After a strong fall from 178 range price is slowly approching the supply area.... slowly moving upwards in a channel. we have a demand zone @ 169-170 range... we have Resistance @180 range as well... if suddenly price is breaks the supply area.. look for sell @180 range. keep track this levels.
Here ntpc Ltd crossed line I found a good position in this stock.
Strong Buy Above 150, T1 - 170, T2 - 185, T3 - 201, T4 - 218, T5 - 233, T6 - 242.......... STRICT STOP LOSS below 137. PLEASE NOTE : If it makes new all time high then keep trailing SL from 240.
Reasons to buy- 1-taking support and reversing from 200 EMA 2-lower trendline support 3-triangle pattern breakout 4-good R:R from current level.
Positional and Intraday traders: Enter after the breakout or buy and trail your stoploss.