CESC has been witnessing a falling wedge pattern and if the stock rallies above 310 levels where it will fill the gap formed during the downtrend, we expect the stock to witness a smart rally. RSI also for CESC is oversold and once the stock rallies above 310 levels, the RSI will start to move orthward indicating a bullish pattern. We recommend to buy CESC at current levels, with a stop loss of 250 and an initial target of 350 and the second target being 400.
NTPC has taken support of the major trend line and shown a spurt from there. A breakout above 188 levels will indicate a bullish pattern in the stock. RSI is also showing an upward movement from the bottom levels also indicating positive movement for the stock. We recommend to buy NTPC at current levels, where the stock will cross the support line, with a stop loss of 160 and an initial target of 205 following a target of 220.
After making double top formation at around 1100 levels, the stock has corrected up to 700 levels. The downward price gap is seen on weekly chart and the gap has to be filled for resuming its uptrend. After crossing 950 level, the price gap on weekly chart will get filled and the 'Hammer' structure seen on chart is expected to support downtrend, if seen. RSI for REL INFRA is in the oversold territory and an upward movement of the same indicates a positive move northwards for the stock. We recommend to buy REL INFRA at current levels, which is the level where the gap will be filled, with a stop loss of 780, which is the level near the previous low made by the stock and a targets of 1150 and 1350.
Source: MOST.
