NTPC, which has been consolidating for over 2 years, has the potential to experience a breakout with strong momentum. As visible from chart it has made a rectangular channel pattern where it has retested it's support and bounced back over and over again.
Today, the stock has reached its resistance level and formed a positive candlestick. If the stock breaks the resistance and sustains above this line, it could be an opportunity to take position.
#StockMarket #technicalAnalysis #NSE #NTPC #Swingtrading