As we can see MACD has gone on -ve and stock is at verge to break upward trend line, Which intimates the trend changing to bearish soon. Hence,
Sell NTPC below - 90.5
T- 84.5
SL-93.5
A medium to long term target using multiple indicators all confirming a downward trend.
It looks like a 5th Wave downwards
Guppy Multiple Moving average setup would be confirmed once the prices go below 25th April low.
Dinapoli agreement (confluence between fibo retracement and fibo expansion)
NTPC seems to be in Uptrend immediate support at 95 and resistance at 100, If 95 is broken it can go upto 90 -93 levels which are good levels for accumulation with stop loss of 84
93- 95 levels if not broken on closing basis then stock can bounce back to 100 levels.
- Stock in a Overall Downtrend
- Rejected off Daily kijun / 50% Fib Level
- Close below a key S/R level
I am short from 50% level of Bearish Pinbar on March Futures. Will add more on 6th March after more confirmation.
Also sold 111 CE @ 1.6
