NTPC Limited (NSE: NTPC)

Market Sentiment: Bullish

NTPC shares are rising from past 4 weeks after hitting low at Rs.149 in last week of June. NTPC Limited, India’s largest power generation company, is keen on exploring opportunities to invest in Oman’s rapidly expanding power sector. This could be a good time to buy this stock at Rs. 185 with a stop loss near Rs.140 and target at Rs. 220 or above.

As per technical chart analysis, this stock is in upward trend. The reasons are

• Price is above 20 EMA, 50 EMA and 100 EMA
• Bullish daily candles have formed, that means up volume is much more than down volume
• RSI is 66 and CCI is 248
• Positive divergence has formed by both RSI and CCI indicators.

Keeping the above technical and fundamental reasons, this could be a good time to buy NTPC for mid-term time period with a stop-loss near Rs.145 and target above Rs.220

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