NHPC Ltd - Breakout Opportunity

vicky252 Updated   
Date: 27-Mar-2024
Rating: Buy - Positional Trade
LTP: Rs. 88.85
Targets: (1) Rs. 115 --> (2) Rs. 142
SL: Rs. 80

Technical View:
NHPC is in its primary uptrend since long time and was recently going through it's secondary downtrend.
• After touching the life time high of 115.85 on 5-Feb-2024, it has retraced 36% to 73.60 level.
NHPC has broke out from its secondary down trend on 27-Mar-2024 with higher than average volume.
• RSI has crossed over 50 on 27-Mar-2024.
• On 27-Mar-2024 it has closed above both 20 DMA and 50 DMA.
• Looking strong to start a new swing from here.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Trade closed manually:
Broke down the trend line. Closing the call to save profit.
LTP: 97.10
P&L: +9%

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