Nobody hates the stock but nobody loves the stock either. As a result - it's a stock that's best ignored by everyone irrespective of stock's technical.
Here's the NTPC Daily Chart
NTPC since start of 2011 was in downtrend with 100 week ma as resistance. The stock from highs of 200 declined to levels of 110. But the big turnaround move came around election results time when stock after 3 years broke out above 100 week ma. Now after eight weeks of turnaround - the stock has pulled back to 100 week ma. Technically , stock has very limited downside. But here's the problem: No one loves the stock and hence upside may come at a very slow pace; and that's something which no one will like in current environment.
Technically, NTPC is a great buy at CMP but I doubt folks would jump on to the counter.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers