NHPC - Resistance at 23/- ??

٨ ديسمبر ٢٠٢٠

Market trend of past 9 months shows that NHPCL is unable to cross 23 (which is continuing as its resistance as shown below) except for 3rd week of August where the stock breached 23 levels on expectation of good quarterly results which it could not sustain and making it a false break-out. As of now, eventhough it could break 50,100,200 DMAs, still it is not able to cross 23 levels where bears are getting active. If it can break 23 level & maintain the same, the price can bounce back to pre-covid levels. Immediate Support level is 19.6 which is being maintained as such from Apr 20.

Please note that this is purely for educational purpose only and does not contain recommendation as to buy/hold/sell this stock.