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.
NTPC is showing signs of a potential bounce back as it consolidates around the 369 mark. The Bullish Harami formation hints at a bullish reversal, supported by oversold signals from RSI at 37. The Awesome Oscillator remains negative, yet its gradual rise suggests waning bearish momentum. The stock's price is currently hovering near its 200-day EMA, a critical point for trend determination. Short-term EMAs like the 10-day (371) and Hull MA (364) indicate the price is slightly under resistance but holding near key support. Bearish pressure persists, as evidenced by the MACD and Momentum indicators, though declining Bear Power suggests weakening selling strength. For traders, a break above 371 could trigger buying interest, with targets near 390. A downside breach of 360 could, however, extend the correction.
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