NTPC breakout????I'm new here. Can someone help me to interpret it.
Apart from trendline resistance, the pattern it is trading in will be called falling wedge???
As NTPC has declared the dividend date (10/sep), so, im expecting short term upside. Plus NTPC has been flat from last weeks.
Btw im an option trader.
Any insight given by u experts would be helpful.
NTPC trade ideas
Same setup like CAMSThis is 1 Hr timeframe.
I have got the same setup like in CAMS that I got on 21st May.
I have posted it. Check it out.
CAMS have moved 25% since then.
Let's see how this one goes.
Completely doing pure techincal analysis without bothering mentally by any news and all other factors.
Those things too reflects candle's movement and stock momentum.
Those candle's also indirectly add meaning and relate other factors.
This post is for information purpose only.
NTPC: Analysis "
TECHNICAL ANALYSIS OF NSE:NTPC
The LAST CLOSE PRICE of NSE: NTPC is 116.15 . The PARABOLIC SAR is showing the DOWNWARD SIGNAL with TREND as DOWN TREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.382 at the FIBONACCI STOCK PRICE LEVEL of 116.15. From here, the Key Support and Resistance levels are SUPPORT 1 at 250.07, SUPPORT 2 at 121 with RESISTANCE 1 and RESISTANCE 2 at 114.4 and 112.6 respectively. The Key 50% FIBONACCI LEVEL stands at 114.4 which is the crucial Fibonacci Level determining whether the scrip will maintain the trend or not.
The STOC RSI has the values K and D as 22.88 and 29.76 respectively. At this level it the status is WITHIN OVER BOUGHT AND OVER SOLD RANGE. When we look at the Moving Averages, MACD is the crucial indicator to look into. With MACD VALUE at 1.68 and 40.72 at 2.11 along with HISTOGRAM showing values of -0.43, the STATUS is clearly DOWNWARDS.
The best indicator to determine the Trend Reversal is FISHER TRANSFORM and currently the values of FISHER and TRIGGER stand at 0.21 and 0.33 with DOWNTREND as TREND CHANGED TO BUY. A very important factor while making the investment is to see if there has been already too much of Buying or Selling, and that are we entering too late into the transaction or not. Thus, with WILLIAM's R% value at -0.5988 the STATUS is WITHIN OVER BOUGHT AND OVER SOLD RANGE.
No one wants to buy costly things, and thus always look for the bargain or appropriate price levels to buy things. Same applies to Stocks, however the only exception would be some Hot Stocks that one wants to have any price. Looking at this perspective, the P/E RATIO of the stock stands at 7.8 which signifies its Price Level to be VERY CHEAP.
>>> RECOMMENDATION is : SELL ."
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
NTPC Rising WedgeThe pattern we see is an 'Rising Wedge' pattern. This usually occurs when a security’s price has been rising over time, but it can also occur in the midst of a downward trend as well. (Information via Investopedia)
The declining volumes indicate lower volatility and an imminent power move (long/short), ATR confirms the same.
Considering the bullish green candle with a short body indicates weak buying trend.
Symmetrical Triangle in NTPC.A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
1. Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.
2. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.
3. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
The price target for a breakout or breakdown from a symmetrical triangle is equal to the distance from the high and low of the earliest part of the pattern applied to the breakout price point. The stop-loss for the symmetrical triangle pattern is often just below the breakout point.