Can I buy shares of NTPC at the current levels?
BUY NTPC AT THE CURRENT LEVELS
NTPC is currently trading at Rs 164.50. Its 52-week high/low stand at Rs 187.95/Rs 149.45 made on October 27, 2017 and June 28, 2018 respectively. Considering the daily time frame, the stock gave a breakdown of an upward sloping channel pattern at Rs 169 on February 1, 2018. The stock gave a pullback up to Rs 180. The stock then reversed to trade with lower tops and lower bottoms up to Rs 149-150 levels, where it hit double bottom and bounced back. Meanwhile, it also formed a range of Rs 149 to Rs 160 and has breached the range on the upside recently. The reasonable volumes and the 14-period RSI quoting near 60 suggest momentum. We suggest you to enter the stock at the current levels.