NTPC has accomplished corrective wave (c) at 134.95 and started an impulse structure. Currently, the price is forming a corrective wave after experiencing impulse wave 3.
Wave 4 can cease at 146.10 at 38.2% of wave 2. It can be the best price for the traders to ride on the existing trend.
If the price sustains above 144.50, traders can trade for the following targets: . Please note that 200 EMA is also crucial support for NTPC
But, if the price fails to sustain above 61.8% of the 3rd wave at 144.20, Supply pressure will lead the price to the following targets: .
After the invalidation, our label will be W-X-Y-X-Z or Triple Three.
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