Hello friends,
This is my first time on this board. I have not studied NTPC fundamentally. This is an attempt to analyze NTPC technically. Honestly on fundamental basis PSU stocks don’t make a lot of sense since they are generally run with greater good in mind rather than making Q-o-Q profits.
This is how NTPC monthly chart with volumes looks
The monthly MACD is also in positive cross over for long time
Even the monthly RSI is @ 63 (bullish momentum) and showing all right intent
Weekly RSI needs 1-2 good weeks to get into bullish momentum zone
Very recently the 50Mon EMA has given a PCO with 200Mon EMA, and 100Mon EMA is on its way to do so. Difference is very small
INR 183-184 seems to be a mental resistance level for this scrip which it only briefly tested in Nov’ 22 after 12 years. It seems like a shakeout is happening before it breaks and crosses next mental barrier of INR 200/-. However, there is no guarantee that break-out will happen at so & so date/month.
I am going to keep a close watch on this stock for sure.
Disclaimer – I don’t own this stock and I am not a registered stock adviser, so do your own research and don’t believe me blindly
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