NTPC

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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.

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