NTPC Hourly NTPC on hourly chart is indicating a typical text book Bullish Flag & Pole pattern formation. It was previously under range consolidation and then post breakout gave a good momentum upside.
It then retraced back and took support at exactly 50% retracement level of recent upmove. On hourly chart as per closing basis it is showing a visible breakout in Bullish Flag & Pole pattern.
Keep this setup in radar for coming sessions to potentially get a good momentum.
15 min chart for small time frame reference
This isn't a buy or sell recommendation but just an educational purpose post
NTPC
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History Repeats HISTORY REPEATS ITSELF
NTPC has formed similar patters in the past and on a break of the trendline and has soared a good 12%-19%, making it highly probable.
NTPC breaks its downward trendline on high volume with support from 50ema
Options Data: 7% increase in one day on open interest causing a long buildup
Target of 183.05
Stop loss at 164.65
Keep it Simple
CNXEnergy Nifty EnergyCNXEnergy will be an absolute avoid from a long perspective.
One can see that the RSI is losing a lot of strength and the index is unable to make higher highs.
We have witnessed this kind of pattern during 2018,2019 and we all know what happened in 2020.
It can dupe by a small movement but one need to observe if the index is unable to make a higher high then it will become problematic for the index.
The index contains
Reliance Industries Ltd. 33.82
Adani Transmission Ltd. 12.35
NTPC Ltd. 10.88
Power Grid Corporation of India Ltd. 10.31
Adani Green Energy Ltd. 10.13
Oil & Natural Gas Corporation Ltd. 6.91
Tata Power Co. Ltd. 5.06
Bharat Petroleum Corporation Ltd. 3.83
Indian Oil Corporation Ltd. 3.44
GAIL (India) Ltd. 3.25
I would absolutely avoid the above stocks as I am not seeing any great gains from long point of view.
Disclaimer - Please DYOR, Don't take any market positions based on my analysis.
Good opportunity in ntpc for intraday swing trade50 ema on 15 minutes chart of ntpc, is acting as a resistance But in last trading session it closed above the 50 ema. If it sustains above 50 ema, a rally till 175 /180 can be expected.
180 holds highest call oi and 175 holds second highest call oi in 24th nov 2022 options series.
NTPC SHORT TERM SWINGNtpc given breakout and retest done.
Also making Harmonic abcd pattern.
Buy around 175 to 176.
1st tgt - 183, 2nd tgt 197.
Stoploss 170 on day closing basis.
Disclaimer :
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
NTPC Ltd (NTPC) @breakoutlevel NTPC Ltd (NTPC) @breakoutlevel
NTPC Ltd (NTPC) strong breakout with high volume and momentum created in day chart. delivery 63% so strong upside. BUY above 159.08 . NEXT TARGET 160.9 ,161.6,165.7,171.25 Time to go for long, get ready to catch the profit. This is knowledge sharing ideas only. If you want to invest consult with your advisor once . Thank you
NTPC Looks BullishNTPC On the Daily and Hourly Charts looks Bullish, We are entering into Buy into Cash Segment at Current Price 155 With Stoploss below 150 For the Targets of 165.
Reasons For Buy:
# Trendline Breakout
# Retest Breakout Levels.
# Continuing Uptrend.
# Quarterly Results in Line with Expectations.
NTPC - Short Term PickNTPC - Short Term Pick NSE:NTPC
Stock is showing high signs of long term reversal technically (on weekly & Monthly charts) as well as fundamentally and with ongoing uptrend in market it is ready to catch up with the trend soon.
Broken the trendline resistance as we can see on charts and heading for weekly & monthly resistance around 180-190 range in few days to weeks. Stop Loss at 145 is somewhat lower considering any surprise fall in overall market. Once crosses and closes above 160 then it may roll up to Target zones at very fast pace . The Potential Risk Reward is favorable at current price and also one can consider buying at lower prices if they wish to without modification of SL
Most of the Secondary Indicators like RSI , MACD are also supporting the bullish view.
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Attached below few Related Ideas posted under my profile in recent time.
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and your losses arising of above shared info