This power stock is fully charged up for a rally!
5paisa Research Team
Last Updated: 13th April 2022 - 01:27 pm
NTPC Limited is engaged in the generation of electricity and sale of bulk power to state power utilities.
The stock of NTPC recorded its 52-week on April 7, 2022, and thereafter, the stock witnessed a mild profit booking. It formed a higher base above the recent six-months long consolidation pattern, which offers a fresh entry opportunity in the stock.
As the stock is trading around 2% away from its 52-week high, the stock is trading above all the short- and long-term moving averages. The stock is trading above 20, 50, 100 and 200-DMA and all of them are trending up. At the same time, there is a desired sequence.
On Wednesday, the stock is trading up by over 2% and in the first couple hours of the trading session, it has already surpassed its prior trading session volume and this indicates active participation.
The 14-period daily RSI is seen rebounding after forming a base at nine periods average has thus supports the positive bias. Moreover, it's in super bullish territory. The daily MACD is pointing northward while sustaining above its nine periods average thus validating positive bias. The stock is clearly uptrend and the trend strength is extremely high. The Average Directional Index (ADX), which shows trend strength, is as high as 40.96 on a daily chart. Generally, above 25 levels is considered a strong trend. Furthermore, the +DMI is much above the -DMI line and it is pointing northwards.
The cherry on the top is that the stock has an attractive dividend yield of 4.03%. It has gained 15% in one month, while in the last one year the stock has delivered a staggering return of nearly 52%.
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