Bullish Flag pattern spotted in NTPC . Pattern seems to be confirmed and hence the stock could move towards 148. Previous top at 137.5 can act as an intermediate resistance.
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Likewise, consciously if your eye apparently checks the breakdown point you will get a high return. Its not actually support but its a breakdown confirmation line.
Resistance is 136.2 nearby.
134.8 below with volume increase than normal will give you breakdown trade.
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NTPC Breakout done on the Upside. It should fall to complete Harmonic Move. Buy 145_140.5 if gives indecision or Rejection Or reversal Candlestick Pattern. Hold the Position as it has given Weekly Breakout. Target 178/209+
Boys and Girls,
Notice the lower part of channel and the upper circuit till where it goes, which happens to be .786 of the previous cycle, so we are entering long at 146 with tgt of 168.
French Fries.
on the weekly charts ,you can see NTPC is at very attractive levels.
3 support levels are below there.
the chart is also showing RSI divergence .So it looks like trend can change between (150 -140).
as we get 2 bullish candles from any support levels,we can take a long possition in it.
Targets will be given after the trend reversal.
Thank you!
NTPC is trading below 200 day SMA.
Going by the symmetry of the price swings and time taken to complete each swing we can expect it to touch 145-147 zone by 8th Nov to 31 Dec.
