|Buy Range||21.8 – 22.5|
|Target||24 – 24.2|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||7 – 8%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|22.35||BUY||21.8 – 22.5||24 – 24.2||21.5||15 – 20 Trading Sessions||7 – 8%|
# CMP on Aug 07, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 23.
^ The returns are calculated based on CMP#
NHPC is an Indian Electric company controlled by Indian Government. The company generates electricity through hydro, wind and solar power operations. The company also offers consultancy services such as investigation, planning, commissioning, engineering, construction, operation and maintenance and other associated works.
|Sectoral Index||Nifty Infra|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock price has been moving in a larger sideways range in the last one year and was showing lack of strength to give a directional breakout during this period.
- Presently, the stock price has placed near the lower end of a sideways range which acts as multiple supports over the last 12 months.
TECHNICAL OBSERVATIONS (DAILY)
- Attached daily chart shows, the recent breakout on the price front indicates conclusion of the downtrend phase.
- A daily momentum indicator Stochastic is just out from deep oversold zone (20) indicating positive breath in the stock.