#NHPC#MOMENTUM#DIVERGENCENHPC is trading at good valuation, this time is a good time to enter at current level 25.10 for grab double fold target.
NHPC trade ideas
After a long consolidation now the BO happened in the stOckCentral government started to open the almost sections in india...so it's getting normalised..!!! The effect of the opening of the Post Covid19 we are seeing in the chart...!!!
NHPC - Resistance at 23/- ??Market trend of past 9 months shows that NHPCL is unable to cross 23 (which is continuing as its resistance as shown below) except for 3rd week of August where the stock breached 23 levels on expectation of good quarterly results which it could not sustain and making it a false break-out. As of now, eventhough it could break 50,100,200 DMAs, still it is not able to cross 23 levels where bears are getting active. If it can break 23 level & maintain the same, the price can bounce back to pre-covid levels. Immediate Support level is 19.6 which is being maintained as such from Apr 20.
Please note that this is purely for educational purpose only and does not contain recommendation as to buy/hold/sell this stock.
NHPC traingle on its support, expected to make a downtrend.Kindly enter the trade once u get a proper breakout or reversal, support my views if u find it helpful
trend analysis The stock is available @ good premium ( pe ratio 6), and near 52 week low, very good delivery volume, within two weeks might get shoot up, I recommend to accumulate between 20to21rs, thank for view my chart
#NHPC,LONGTERM&SHORTTERMCurrent price is traded below of intrinsic value as per fundamental, Looks very fair at this level but should have to wait until demand zone reach
For a short term perspective strong support level is @ 23.76-23.35, SL @ 23.05
For Long term perspective we have a good demand level @ 22.50-21.90, SL@21.60
double bottomCan this double bottom considered as a monthly retracement or a signal for its uptrend in monthly time frame lets see what it does.
there are more chances for formation of double top near the strong zone which may lead to range bound market
NHPC SELL Below 24.05.SELL Below 24.05.
Double bottom pattern.
Tweezer top candle formation.
And trend line reversal.
