Long with 0.75 % risk and Reward of 1:2Go long with 0.75 % risk and Can book profit at reward of 1:2
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NTPC trade ideas
NTPC LongNTPC/USD
Information:
National Thermal Power Corporation Limited is the largest power utility in India, both in terms of size and efficiency.
The statutory corporation has done new investments in renewable energy sources on the Indian market.
Signals:
Position: Long
Entry price: Limit order at 1,60 USD.
There could also be an argument made about placing a market order at 1,65 USD, depending on the following indicators.
Stop Loss: 1,55 USD
Target price: 2,0 USD
%: 2,0/1,65 = 25% increase
Indicators:
Bollinger Bands: The squeeze of the Bollinger Bands happened two days ago on the 14h of September, from where the Bollinger bands were expanding, and a period of higher volatility started to happen.
MACD: The MACD indicator indicates a bullish movement. The MACD line crossed the signal line on the 31st of August and once again on the 13th of September and the indicators indicate that the uptrend might be continuing which is identified by the histogram is spreading further apart from each other.
RSI: The RSI line is at 62.97 which indicates that the stock is on an upwards trend, and that the stock is slightly overbought.
Conclusion/Analysis:
This uptrend began on the 31st of August but within the volatility lines explained by the Bollinger Bands but on the 14h of September does the volatility increase and might show an accumulating market. The analysis also shows that both the MACD line and the RSI are showing bullish momentum as well as the stock being in this high volatility time period indicates that the stock has momentum going forward meeting the demand of the Indian population (1,366 Billion) as well as their recent expansion in renewable energy. What also is notable is that the stock is slightly overbought and that the stock price would fall down towards the limit order of 1.60 USD.
NTPC NTPC has given breakout with very good intensity of volume and also can do breakout 13 years resistance trendline, which is located near 135 zones, all parameters are pretty good for long buyers. all the key levels are mentioned in chart with Stop-loss and targets.
Key Levels
Volume intensity is good in Breakout candle
Macd in daily positive crossover and Uptick and also above zero line
Rsi in daily above 60 uptick
Dmi adx also positive
Upper Bollinger Challenged by price
Price near 13 years Resistance Trend line
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
NTPC ::: BULLISH :::DATE: 1 AUG 2021
INSTRUMENT: NTPC
TREND: BUY
TIME FRAME: DAY
CMP: 118.2
BUY ABOVE: 119
STOP LOSS: 115
TGT 01: 121
TGT 02: 124
TGT 03: -
INDICATORS FOR CONFIRMATION OF TREND
BOLLINGER BAND: BULLISH
PSAR: BELOW CANDLE
RSI: BULLISH
RISK DISCLOSURE:
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
NTPC Ascending Triangle (*read below*)NTPC forming small ascending triangle.
Following the channel.
Good ema18 support.
Expected breakout by this week or next week.
Breakout should take it at top of the channel.
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