Today’s pick: NTPC (₹172.35): BUY

The short-term outlook for NTPC stock is bullish. The stock has performed very well over the past two weeks. Clusters of supports are in the region of ₹170-₹167. A drop below £167 is less likely. Any dips to £170 should bring new buyers into the market and limit the downside. Immediate resistance is ₹176. A strong break above this can take the NTPC share price to £185 in the next two to three weeks.

Traders can go long the current levels. Accumulate at ₹170 on dips. Keep the stop loss at ₹166. Track the stop loss up to £174 once the stock price rises to £177. Move the stop-loss further up to £178 when the stock touches £180. Exit long positions at ₹182.

(Note: Recommendations are based on technical analysis. There is a risk of loss when trading.)