Starting of bullish Trend in NHPC

Pivot Level 134
Support 1- 129   Resistance 1- 144
Support 2- 119   Resistance 2- 149
Support 3- 104   Resistance 3- 164
Support 4- 89    Resistance 4- 179

Exponential Moving Average
5 Days EMA- 132
20 Days EMA- 126
180 Days EMA- 132

On March 9, 2015 National Hydro Power Company Limited (NHPC) was traded within the tunnel of Rs 125 to Rs 136 and closed at Rs 131 breaching the earlier support level of Rs 126.

On the same day 138,997 unit shares of NHPC were traded amounting turnover of Rs 17,940,300 which is almost 6 times higher than the previous day turnover.

On March 10, 2015 good volume was traded of NHPC amounting 69,270 unit where the share price remained between Rs 131 to Rs 138.

Thereafter new height was touched of Rs 140 on March 11 where NHPC closed at Rs 135 with 50,587 unit share traded.

And on March 12, it closed at new high of Rs 139 where the trading tunnel narrowed to Rs 133 and Rs 140 and remarkable 72,340 unit shares were traded amounting Rs 9,839,160.

The last traded price of NHPC shares (as on March 12, 2015) is above its 5 days, 20 days and 180 days exponential moving average respectively.

The 5 days and 20 days exponential moving average has given the bullish signal after NHPC had crossed Rs 123 on March 4, 2015.

Also MACD (Moving Average Convergences & Divergences) in positive zone clearly indicates the positive trend in NHPC share.

The next targeted price of NHPC is Rs 154, Rs 180 and Rs 220 respectively.

Sagun Shakya

Technical Analyst

Disclamer:
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