NTPC, which has been consolidating for over 2 years, has the potential to experience a breakout with strong momentum. As visible from chart it has made a rectangular channel pattern where it has retested it's support and bounced back over and over again.
Today, the stock has reached its resistance level and formed a positive candlestick. If the stock breaks the resistance and sustains above this line, it could be an opportunity to take position.
As Anticipated CDSL has given a Breakout from its channel pattern, confirming the validity of the earlier analysis.
Some Quantity might be added now and if this BO candle manages to sustain above the line further then rest of the quantity can be added at the 2nd Half.
NOTE- Do Hedge your portfolio as market is making new all time highs each day which makes it more uncertain. Whatever I present to you is always backed by Technical and Fundamental Analysis of stocks just for educational purpose. I am not responsible for your profit and loss.
Trade active
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{Apologies for the mistake in the last update. I meant to type NTPC instead of CDSL.}
I'm super excited! This stock has already gone up by 12%, and it just keeps on rising. Last week, I bought even more shares.
Cheers to everyone who is holding this. enjoy the ride
I have a bullish outlook for its long-term growth. But it is very uncertain to predict in short term, it can correct more but it will again start rising.
gupta.engineers20
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@BullishLine ok. It means steam is over for now. I thought it would straight way go to 260
BullishLine
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It can surely go upto 260 and more but it would never be the straight way.
gupta.engineers20
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What do you think NTPC will do now? Going Up or Down. Pls guide