As nifty is expected to go below 17300 on March 13 Market opening - NTPC could be a winner
Close to life highs, very strong buying / switching from high beta stocks
IV is very low (14%) and the call sellers could panic when the stock goes above 183 (life high) - this has been tested once already
Keep stop at 172 - which is the logical resistance and expect...
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...
So, Last week long calls are doing great.
This week ntpc is looking good for short side if it breaks PDL then go for short side with Small SL
ENTRY=BELOW 171-172
SL=PDH
Target =trail in profit
NTPC Closing 172.4 with stoploss 161 then targets are 183-190.
Buying Reason.
1 --> Price closing above 20,50 EMA.
2 --> RSI is ready Cross 60 Level.
3 --> ADX is showing the Bullish Move and +DMI is Rise.
4 --> Volume is also showing the Breakout Volume and Cross the Average Volume.
5 --> Also Bollinger Bands are Open is Positive side.
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Nifty unlikely to breach 17,500:...
Swing trading ideas
lets, watchout for this stock and see how this trade works out
taking support multiple times,
Buy after breakout of resistance line,
weekly support
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
breakdown and breakout happen means be ready for both thing it is moving in channel and in one month time frame so see chart and price action base
comment me for any stocks analysis
falling wedge pattern is seen NTPC.
Long opportunity is possible
initiate long positions if NTPC gives breakout above 168 and upto 180-190 levels in coming days!
NTPC LOOK GOOD in near term for buying and form symmetrical triangle pattern in ONE DAY time frame. stock is ready for breakout from triangle and we are expecting 10 point or 6-7% return in few days and keep hard stoploss on 167.
