Let us analyze the technical chart of NTPC, on weekly time frame, using Ichimoku indicator.






NTPC technical chart

NTPC share price is trading inside kumo, which itself is a resistance zone for any stock. It's price as well as Chikou-Span (CS) needs to close above kumo to give bullish breakout. So, wait for the closure above 196. Above 196, take long calls for the target of 200 and then 218.

NTPC in resistance zone | Technical Chart | 22-Feb-2012
Rate this post