NHPC Limited (NHPC) Stock - Complete Technical Analysis - Sep 16, 2024

NHPC Stock Analysis Key Support & Resistance Levels September 2024 Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. NHPC Limited (NHPC) is currently trading at 96.2, approximately 18.76% below its 52-week high and 98.74% above its 52-week low. The stock shows a mixed technical picture with several key indicators suggesting different market conditions. The Average Directional Index (ADX) indicates a moderate trend strength, while the RSI is near neutral, suggesting the stock is not in overbought or oversold territory.

The MACD is in the negative territory, reflecting bearish momentum, which is supported by the Bull Bear Power being negative. The Stochastic RSI and Stochastic %K both show oversold conditions, hinting at potential upward movement or a reversal. However, the Awesome Oscillator is also negative, reinforcing the current bearish sentiment.

On the moving averages front, the stock is trading near its 10-day and 20-day EMAs, which may act as immediate support. Resistance levels are likely around the higher moving averages such as the 50-day and 100-day SMAs. The stocks current price is near its Ichimoku Base Line and Volume Weighted Moving Average, further confirming these potential support and resistance levels.

In summary, NHPC is showing a complex technical picture with bearish momentum but potential for a bounce given the oversold conditions. Traders should watch key support levels around the current moving averages and look for signs of a reversal before considering new positions.