NTPC - Intraday Technical Analysis
Hi Traders,
From the kind of support am getting from my recent publishes, am guessing u want more short term analysis. Or maybe you dont want this kind of technical analysis and its better to stop what am doing and concentrate more on my trading. So this might be the last post on Indian stocks.
We have a bullish bias on this stock because of the breakout we had last week.
It seems price would honor the trendline in hourly chart, and we have a key level at 102.70. So price can continue upwards after testing the trendline or the key level at 102.70. We suggest a buy entry only if you get price structure in the lower timeframe.
Since we have the weekly trendline passing through the golden zone, we expect the maximum drawdown can be till this level.
Hoping this was useful. For queries pls feel free to comment.
Happy Trading
From the kind of support am getting from my recent publishes, am guessing u want more short term analysis. Or maybe you dont want this kind of technical analysis and its better to stop what am doing and concentrate more on my trading. So this might be the last post on Indian stocks.
We have a bullish bias on this stock because of the breakout we had last week.
It seems price would honor the trendline in hourly chart, and we have a key level at 102.70. So price can continue upwards after testing the trendline or the key level at 102.70. We suggest a buy entry only if you get price structure in the lower timeframe.
Since we have the weekly trendline passing through the golden zone, we expect the maximum drawdown can be till this level.
Hoping this was useful. For queries pls feel free to comment.
Happy Trading
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