On the weekly timeframe, NHPC is trading near a well-defined demand zone, where price has previously shown buying interest. The stock is currently attempting to stabilize after a corrective phase, indicating potential accumulation at lower levels.
The highlighted zone acts as a strong support area, and as long as price holds above this region, the probability of an upside move remains intact. On the upside, the stock faces a clear resistance zone, which will be a crucial level to watch for supply and profit booking.
If NHPC sustains above the support zone and shows follow-through buying, a move towards the upper resistance levels is possible. However, a decisive breakdown below support would weaken the structure and may invite further downside pressure.
Overall, the setup offers a favorable risk–reward structure, but confirmation through price
action near support is essential before expecting a sustained bullish move.
This analysis is for educational purposes only and not financial advice.
The highlighted zone acts as a strong support area, and as long as price holds above this region, the probability of an upside move remains intact. On the upside, the stock faces a clear resistance zone, which will be a crucial level to watch for supply and profit booking.
If NHPC sustains above the support zone and shows follow-through buying, a move towards the upper resistance levels is possible. However, a decisive breakdown below support would weaken the structure and may invite further downside pressure.
Overall, the setup offers a favorable risk–reward structure, but confirmation through price
action near support is essential before expecting a sustained bullish move.
This analysis is for educational purposes only and not financial advice.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.