Market Trading Guide:Vi, NTPC among 7 stock recommendations for Thursday

On the daily charts, the stock has experienced a breakout of its ‘Previous swing high’ with substantial volume. Moreover, the stock traded above the critical short-term moving average. Technical indicator Ichimoku Cloud indicates that the price is above the conversion and base line, hinting at a positive trend. The RSI (14) is above 60 levels, indicating a bullish move in the near term.

(Ashish Katwa, Research Analyst, Bonanza Portfolio)

On a weekly timeframe, the stock presented a 'Falling supply trend line' breakout with a bullish candlestick. The stock also traded above the pivotal short-term moving average. The Ichimoku Cloud reveals the price is above the cloud, signaling a positive trend. The RSI (14) reads above 55 levels, suggesting bullish momentum in the near term.

(Ashish Katwa, Research Analyst, Bonanza Portfolio)

While the stock trades in a slight uptrend on weekly charts, for the first time in four months, it's trading below its last three weeks' low, a bearish indication. Short-term moving averages are turning sideways, hinting at a potential uptrend exhaustion. Momentum indicators are also skewing bearish.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

Chart analysis indicates the stock is poised for outperformance after nearly two years of downturn. With the commencement of higher highs and lows on weekly charts, an uptrend seems to be starting. A breakout on the relative strength chart compared to the Nifty-50 index complements the price action.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

A gap-down opening on the daily chart, accompanied by high volume and breaking below the crucial zone of Rs 2,470-2,510, turns the momentum bearish. Momentum indicators like MACD and the 14-period RSI face resistance at their moving averages with every uptick, suggesting increasing weakness as supply outpaces demand.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

The stock showcases an ascending pattern, marked by higher highs and lows. It currently stands above a significant moving average, and the daily RSI has shown a bullish crossover. The stock has potential to advance towards the Rs 265-270 range. On the downside, support is established at Rs 240.

(Rupak De, Senior Technical Analyst, LKP Securities)

After a significant rally, NTPC underwent a correction and found support at its 20-day moving average (20DMA). The RSI hints at a positive crossover, indicating strengthening momentum. Crucial support for the stock is at Rs 210, which is likely to bolster the bulls. Upside targets are set between Rs 226-230.

(Rupak De, Senior Technical Analyst, LKP Securities)

(Disclaimer: Recommendations, suggestions, views, and opinions offered by the experts are solely theirs and do not represent the views of the Economic Times.)