The short-term outlook is bullish for NHPC. The inventory had risen above the psychological ₹100-mark final week and has been persevering with to carry effectively above it. The sharp bounce from the low of ₹102.10 on Wednesday signifies the presence of robust consumers at decrease ranges. Certainly, this bounce had occurred from simply above the 21-day transferring common help which is at ₹101.85. Cluster of helps are there within the ₹103-100 area.
NHPC share value can rise to ₹119-120 within the subsequent few weeks. Merchants can go lengthy now at round ₹109. Accumulate on dips at ₹104. Maintain the stop-loss at ₹101 initially. Path the stop-loss as much as ₹111 as quickly because the inventory strikes as much as ₹114. Transfer the stop-loss additional as much as ₹114 when the worth touches ₹116. Exit the lengthy positions at ₹118.
(Word: The suggestions are primarily based on technical evaluation. There’s threat of loss in buying and selling.)
