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Buy NTPC, target Rs 175: Emkay Global Financial Services

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ETMarkets.com|Updated: Jul 02, 2018, 10.52 AM ISTThe current market price of NTPC is Rs 153.60.Kapil Shah, a technical analyst of Emkay Global Financial Services, has a buy call on NTPC with a target price of Rs 175. The current market price of NTPC is Rs 153.60. Time period given by the analyst is one month when NTPC price can reach the defined target.

Kapil Shah recommended keeping a stop loss at Rs 149. "Daily chart indicates that after a sharp fall from Rs 180 levels to almost Rs 150 level, the stock is now showing pullback rally which indicates some relief sign.

Momentum Indicator RSI is showing a positive divergence suggesting intensity of selling pressure has been reduce and pullback rally may be seen in near term.

The pullback rally may extend its leg towards 200- DMA i.e Rs 170 level," Kapil Shah said in a report. Commenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.

Please consult your financial advisor before taking any position in the stock/s mentioned.From Around The WebMore from The TheIndianSubcontinent




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