Hi friends,
NTPC came up with its IPO in year 2004 and did good till year 2008
and scaled to highs of 290 where it finished abcde and started its abc correction
we are in this abc ciorrection for 6 years.
Let me put the wave chart.
From the chart we can see
the stock attempted a
double bottom at 112 levels
and been holding it.
Above 145 the stock would
breakout of down channel
of c wave and would confirm
c wave end and start of bull
market in NTPC .
So look for the break of 145
to buy into stock for higher levels ,In case the stock doesnot break 145 we can see another drift
towards 93-94 before it attempts breakout.
Keep this stock on radar ,This stock would be spearhead of next bull run .
NTPC came up with its IPO in year 2004 and did good till year 2008
and scaled to highs of 290 where it finished abcde and started its abc correction
we are in this abc ciorrection for 6 years.
Let me put the wave chart.
the stock attempted a
double bottom at 112 levels
and been holding it.
Above 145 the stock would
breakout of down channel
of c wave and would confirm
c wave end and start of bull
market in NTPC .
So look for the break of 145
to buy into stock for higher levels ,In case the stock doesnot break 145 we can see another drift
towards 93-94 before it attempts breakout.
Keep this stock on radar ,This stock would be spearhead of next bull run .
like other past failure, can't we presume that this time it will be a failure after touching the channel upper boundary?
ReplyDeleteHi A, Good question ,That's why for a trader its a buy above 145 only ,But for a investor its a buy at present level and at 92-93 if it fails to cross 145 ,In both cases i reckon this stock is ready for trend change only think if it fails to cross 145 now it can taken some time but its a stock to watch out for next move up..
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