Weekly Stock Pick recommendation - NTPC by Monarch Networth Capital
Expert recommendations:
• Current Price: Rs 365.8
• Buying Price: Rs 360–370
• Target Price: Rs 410–435
• Stop Loss: Rs 330
• Upside Potential: 19%
• Investment Horizon: 3–4 Months
NTPC has rebounded strongly from the Rs 315 level and established support in the Rs350–360 zone after a healthy retracement. The stock is witnessing renewed buying interest, supported by a bounce from its anchored VWAP support and a close above the 200-day moving average with a bullish candlestick formation. Additionally, a double-bottom pattern near the Point of Control (POC) level and improving RSI readings on both daily and weekly charts indicate the potential for continued upside momentum over the coming months.
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