NHPC Ltd Long
Wait for weekly close above 27.0
Buy above 27.0
SL- 24.45
Target- 31.5, 34.4
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Charts and views are only for educational purpose.
ENTER AT BREAKOUT ON HEAVY VOLUME ON DAILY TIMEFRAME WE WANT FUNDAMENTAL CATALYST TO APPROVE OUR ANALYSIS BEFORE PLACING IN A TRADE
WE WANT A POWER MOVE BULLISHLY ON OUR RESISTANCE AREA RTHEN A MOVE PEIRCING THROUGH UPPER CHANNEL ON DAILY TIMEFRAME
After declining since a week, NHPC has taken good support of trade line and likely to reverse trend and likely to reach up to upper tread line with target if Rs. 29.80. RSI on daily also indicating trend reversal.
DAILY SWING CALL // Friday 19th of February 2021 / NSE:NHPC
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 25.7
TARGET: 29.55+ (15% Around)
STOP...
Central 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...!!!
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...
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
