kalyanganguly

NTPC - Bullish Hammer at support

Long
NSE:NTPC   NTPC LTD
Note: This is for educational purpose only.

After a steep downfall, there seems to be a bullish hammer / bullish pin bar at support level . Moreover, there seems to be a bullish RSI divergence which indicates there might be rise in price.

Comments

i think its double bottom pattern with morning Star Doji and positive RSI divergence
+4 Reply
This was a good technical study.. I have done the same study and took a position. Unfortunately it didn't work as I expected. There were fundamental reasons for to negative movement. Though My stop loss is not hit.. if closes above 83 there is still hope.
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kalyanganguly sreejithKN
@sreejithKN, agreed. I am holding as well.
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Such patterns have less likelihood of working if the weekly trend is negative
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kalyanganguly kchauhan.yogesh
@kchauhan.yogesh, thank for letting this know.
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Broken support.wrong call
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kalyanganguly Vedaanagha
@Vedaanagha, agreed
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Hey your anaylsis of Nifty last week was perfect . it did go up to 11705 as per your anaylsis .Would like to learn from you.
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kalyanganguly shikhasmumbai
@shikhasmumbai, thanks for your comments but even I am learning. If you want to learn basics, please see Rayner Teo's videos on youtube. He clarifies the basics very well.
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shikhasmumbai kalyanganguly
@kalyanganguly, thnks , i surely will
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