Nifty drops, analysts name NTPC Green, Tata Power buys
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- Nifty fell sharply on Friday, marking its third consecutive decline as the Iran‑Israel/US war dented market sentiment, and moved further away from its 200‑day moving average.
- Rupak De, senior technical analyst at LKP Securities, said the RSI entered the oversold zone and the trend remains weak, projecting a possible slide to 23,000‑22,800 while resistance sits near 23,400.
- NTPC Green is recommended as a buy at around ₹95, with a target of ₹110‑115 and a stop‑loss at ₹85, reflecting a 21% upside and a bullish reversal signal from the MACD histogram.
- Osho Krishan, senior research analyst at Angel One, noted that NTPC Green has rebounded from its lifetime low, surged above all significant EMAs, and is supported by robust volumes.
- Tata Power is recommended as a buy near ₹390, with a target of ₹415‑420 and a stop‑loss at ₹375, indicating an 8% upside as the stock has broken above the 200‑day SMA after multiple positive crossovers.
- Osho Krishan also highlighted that Tata Power’s recent buying traction and technical parameters align with price action, suggesting a potential rally.
Why it matters: Investors can capture 21% and 8% upside in NTPC Green and Tata Power despite the broader market slide, as technical signals suggest a rebound while the Nifty’s oversold condition may keep pressure on index‑wide holdings, making the two stocks attractive hedges against the prevailing sentiment.
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