NHPC Limited (NHPC) Stock - Complete Technical Analysis - Sep 03, 2024

NHPC Limited Technical Analysis: Key Support

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 99.1, with its technical outlook showing a mixed picture. The stock's support levels are primarily seen at the Classic Pivot S1 of 90.31 and Camarilla S1 at 94.86. On the upside, resistance levels are at the Classic Pivot R1 of 104.11 and Woodie R1 of 106.9.

The stock's moving averages indicate a generally bullish trend, with the Exponential Moving Average (EMA) across various periods supporting the current price. Notably, the 10-day EMA at 96.92 and the 50-day EMA at 99.43 are below the current price, which suggests a positive short-term trend.

The MACD line is below the signal line, indicating a bearish phase, while the RSI is near the neutral 50 mark, reflecting indecision among traders. The ADX reading of around 19.96 suggests a weak trend strength, meaning NHPC is currently experiencing a consolidation phase.

Chart patterns reveal a Bullish Harami, indicating a potential reversal in the downtrend. The Stochastic RSI and Williams %R suggest that the stock is in the overbought territory, which could mean a correction or consolidation might be imminent.

Volume Weighted Moving Average and Hull Moving Average both support a bullish stance, while the Awesome Oscillator indicates a bearish momentum.

In summary, NHPC's technical analysis shows a mix of bullish and bearish signals with critical support around 90.31 and resistance near 104.11. Traders should watch for potential reversals given the mixed indicators and the ongoing consolidation.