forming an U, keep in radarThe stock has formed an U pattern on daily chart and we can see a good move upon breakout. Keep the scrip in radar
Ntpctreand
NTPC - Bullish SetupStrong Buy Above 150, T1 - 170, T2 - 185, T3 - 201, T4 - 218, T5 - 233, T6 - 242.......... STRICT STOP LOSS below 137.
PLEASE NOTE : If it makes new all time high then keep trailing SL from 240.
NTPC looks good to buy for multiple reasonsReasons to buy-
1-taking support and reversing from 200 EMA
2-lower trendline support
3-triangle pattern breakout
4-good R:R from current level.
NTPC NTPC has given breakout with very good intensity of volume and also can do breakout 13 years resistance trendline, which is located near 135 zones, all parameters are pretty good for long buyers. all the key levels are mentioned in chart with Stop-loss and targets.
Key Levels
Volume intensity is good in Breakout candle
Macd in daily positive crossover and Uptick and also above zero line
Rsi in daily above 60 uptick
Dmi adx also positive
Upper Bollinger Challenged by price
Price near 13 years Resistance Trend line
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
