NHPC breached its 4 years price

52 Weeks High :                    Rs. 101

52 Weeks Low :                     Rs. 39

180 Days Average Price:       Rs. 63

90 Days Average Price:          Rs. 90

60 Days Average Price:          Rs. 76

30 Days Average Price:          Rs.81

Last Week

Open:                                      Rs. 80

High:                                       Rs. 101

Low:                                        Rs. 81

Close :                                     Rs. 101

Volume:                                  3,42,610

Support (Rs.):  91, 81, 75, 64

Resistance(Rs.):  111, 124, 155, 225

Recommendation

National Hydropower Company Limited has breached the par after a hiatus of four years. This week the volume has suddenly increased. On 2012/5/8 the scrip was trading at around Rs 90.The price started to gradually come down after that point, and took support at 50 level for more than 1 ½ years.It again started to go up from 2013/11/13 and reached Rs 92 on 2013/12/16 before sliding again to a low of Rs 75 on 2014/1/22. Then, all of a sudden, it began to take rally and breached its old high of Rs 92 on 2014/02/6 with 1,00870 units traded.Still in a bullish trend and heading towards 155, it could, perhaps, move further towards 225 levels.

Sagun Shakya

Technical Analyst

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