NTPC Limited Stock Forecast
Evaluation of NTPC Limited stock downgraded after the last trading session.
(Updated on May 23, 2024)
The NTPC Limited stock price fell by -0.428% on the last day (Thursday, 23rd May 2024) from ₹373.90 to ₹372.30. During the last trading day the stock fluctuated 1.64% from a day low at ₹369.55 to a day high of ₹375.60. The price has risen in 7 of the last 10 days and is up by 4.68% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ₹565.77 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹374.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.12% during the next 3 months and, with a 90% probability hold a price between ₹372.47 and ₹412.42 at the end of this 3-month period.
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NTPC.BO Signals & Forecast
The NTPC Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹366.01 and ₹356.77. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.428%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NTPC Limited stock
NTPC Limited finds support from accumulated volume at ₹361.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹6.05 (1.64%) between high and low. For the last week, the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: ₹360.93 (-3.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (NTPC.BO) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect NTPC Limited to open at ₹372.48, and during the day (based on 14 day Average True Range), to move between ₹362.89 and ₹381.71, which gives a possible trading interval of +/-₹9.41 (+/-2.53%) up or down from last closing price. If NTPC Limited takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹373.90 (0.43%) than the support at ₹361.65 (2.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NTPC Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NTPC Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.407 Buy Candidate Downgraded
Predicted Opening Price for NTPC Limited of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
₹372.48 ( 0.0492%) | ₹372.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTPC.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 378.53 | 1.67 % | |
R2 | 376.22 | 1.05 % | ||
R1 | 374.79 | 0.670 % | ||
Current price: | 372.30 | |||
Support | S1 | 370.17 | -0.572 % | |
S2 | 368.74 | -0.96 % | ||
S3 | 366.43 | -1.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 373.90 | 0.430 % | ||
Current price | 372.30 | |||
Support | S1 | 361.65 | -2.86% | |
S2 | 329.20 | -11.58% | ||
S3 | 316.00 | -15.12% |
FAQ
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