Published November 21, 2018
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Nifty 50 (NIFTY) developed negatively Tuesday, and fell 1.00 per cent to a close of 10656 points.
364 shares were up and 1142 were down, while 52 remained unchanged, and there was no trading in 246 shares.
The total value of the trading volume for shares and primary capital certificates Tuesday was approximately 263.5 billion.
NTPC Limited (NTPC.NS) Close: 149.15
NTPC Limited shows weak development in a falling trend channel in the medium and short term charts. This signals increasing pessimism among investors and indicates further decline for NTPC Limited. The Nifty 50 index component closed at its 52 week low on Tuesday.
After testing support at 150 rupees, the NTPC stock price reacted upwards, but could not go beyond the resistance of 175 rupees and reverted back. The stock has now broken the support of 150 rupees and is inching downwards. Further downfall in the stock is indicated.
Momentum is weak, which may add further fuel to the falling price of NTPC. The stock does not show any clear support before 112 rupees in the longer term chart, so the downside can be big. In case of a price reaction on the upside, there is resistance around 161 rupees. Hence the risk-reward ratio in the stock is favourable to the negatives.
Investtech's outlook (one to six weeks): Negative
The analyses are based on closing price as per November 20, 2018. Maintaining proper stop loss is always recommended.
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The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.