Buy NTPC with stoploss below Rs 207: Finquest

MUMBAI: Finquest Securities is bullish on NTPC and expects the stock to touch target of Rs 220-230. It has advised to keep a stoploss below Rs 207.

���A perfect long legged Doji formed in NTPC after its recent fall from Rs 233 levels indicates downtrend momentum has weakened. Further with the low of Rs 208 prices have retraced back 61.8% of the recent fall. Convergence of support due to Doji, 61.8% retracement support and 21 EMA at Rs 210 indicates a value buying zone for NTPC. A breach of immediate resistance at Rs 215 would lead to prices edge in higher towards Rs 225 and then further towards Rs 230 levels,��� said Finquest Securities report.