NTPC Looks Good For Short Term Gain

 

The government is planning for its FPO for 9.5% stake sale by 15^th January, 2013. In the last quarter, Q2FY13, NTPC posted an excellent result. Its revenue grew by 4.8% YoY to 171.68 billion rupees, while the bottomline rose by 29.6% YoY to 31.42 billion rupees.

 

NTPC was in short term down trend. However, on last Friday, 14^th Dec, 2012, the price of NTPC closed at 152.80 up by 1.46%.The volume was quite high at around 5.5 million, whereas 30 days average volume for NTPC is 2.2 Million (NSE). NTPC has strong support at 150.  Also, technically, RSI of NTPC is in oversold region. In the Bollinger band, NTPC price has touched the lower Bollinger band and hence up-move is expected in near future.

 

Considering the technicals and the last quarter result, the stock can be bought with a target of Rs 160-162

{fshare}

Tweet

{jcomments on}