Keep a watch on NTPC, chart structure in continuous upward with proper support and resistance. Multiple time price rejected from level of Rs 146 and expect minimum return of 7% from current level & if multiple year resistance broken, stock may generate further return of 30-40%.
The power and energy sector is looking positive, donn't miss the theme.
Strong Fundamental with sales and profits growth.
a) P/E 4.81 b) P/B 0.96 c) ROE 38.50 % d) ROCE 8.34% e) Dividend Yield 13.61% i.e., Rs 10 per share f) Operating Income has grown well for the company over past 3 years CAGR 38.02%
The price was consolidating inside Darvas Box past 6month and given a Resistance breakout
Entry will be at retest...
Nazara Tech consolidating from past three month, 4th Jan'22 candle was a gap fill attempt created on 2nd Nov'21.
Support at Fib 0.382 and currently price above moving average 21 & 55 with resistance of Rs 2530.
Correct entry will be above Rs 2550 with Target of Rs 2940 & Rs 3350 and Stop Loss will be Rs 2300.
Disclaimer: Consult your financial advisor...
The chemical sector are showing positive move from past few trading session. GHCL established itself in diversified segment of Chemicals, Textiles and Consumer Products segments.
Fundamentally, may avoid the stock but technically price action will generate subsequent gain in short term view.
The technical analysis based on simple descending triangle breakout...
The chart structure is favourable supported by multiple factor.
Pros: a) The healthy correction of 30% - price breakout from channel b) Fib retrenchment c) Moving Average above 21 & 200 d) RSI d) Similar breakout candle from same level
Cons: a) Volume b) wait for 50 & 100 EMA crossover for safe entry
Entry, Stop Loss and Target mentioned in chart.
The stock is looking good as price above important moving average , fib support , healthy correction and flag pattern.
Entry above Rs 770 , Stop Loss Rs 740 and Target Rs 850
Entry below Rs 750 , Stop Loss Rs 780 and Target Rs 650
It is an anticipatory opportunity in Glenmark; Entry will above Rs 550 with Stop Loss at EMA 200 and Target will be Rs 580 , Rs 600 and Rs 640.
Points considered : Multiple Resistance Points, Price at EMA 200, Upward Channel Pattern, RSI, Fib Level and Good consolidation in past 3 months.