Almost all CPSE stocks have shown great momentum today with massive volumes coming in at this price clearly depicts value buying at these levels. NTPC
is hovering around its strong resistance level
and breaching the level of 103 will help it rally more for the upside journey. Classical flag and pole pattern formation and the daily RSI
clearly confirms the charge of bulls supported by maasive intra-day volumes and good delivery percentage.
Wait for the right price action (let it give a clear breakout and cross its key level)
Similar view for COAL INDIA and OIL
Risk averse investors can look for great buying opportunity in CPSE ETF
which has also given a good breakout and is catching momentum. Risk to reward looks good at this level!
Disclaimer: Take this view for educational purpose. Trade on your own risk.
Happy trading. Happy Investing!