Thursday, 20 November 2008

NTPC looks weak says Bose

Technical Analyst, Rajat K Bose is of the view that NTPC is looking weak.

Bose told CNBC-TV18, "NTPC till date has been looking pretty weak, but now I would say that if it doesn’t go below Rs 135, then one would see some buying coming in but for the real strength to come in NTPC, hje/she need to see the stock actually trading above Rs 153 and sustaining there, then one will see NTPC moving up. However one thing, I would like to point out here is that studying the medium to long-term charts what I find is that when that rally happens- the rally that I anticipate would happen in December. NTPC would join in because power sector at that point of time might actually do well, technical indications are pointing towards that."

Source: Moneycontrol

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