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Intraday Tips- Technical Report and Outlook for Wednesday 3rd August

NTPC bounced back from the lower levels today and made intraday high of 181.70. The stock has support level at 175 and resistance level at 182. In short term it is expected to consolidate with positive biasness and crossing of resistance level may take the stock at higher levels.
Resistance2-  185.2,  Resistance1-  183.1,  Pivot Point  179.6, 
Support1-  177.5,  Support2-  174
The stock had a bearish trend throughout the last week. one should now wait for sometime in the stock as it is expected to consolidate a bit after a continuous fall.
Resistance2-  320.85,  Resistance1-  317.2,  Pivot Point  311.35, 
Support1-  307.7,  Support2-  301.85
The stock in today's trading session manages to trade near to the resistance level of 278; from this level further upside of movement would be expected. It is now taking resistance at 278 and support at 270. It is looking strong on charts; one can go for long position in it at 278 for the target of 290.
Resistance2-  281.08,  Resistance1-  278.77,  Pivot Point  275.18, 
Support1-  272.87,  Support2-  269.28
The stock is consolidating currently after sharp downfall last week. The stock has resistance level at 69 and support level at 65. In short term it is expected to consolidate with negative biasness in short term, also if it continue to sustain above the support level a bounce back can be seen in it.
Resistance2-  68.77,  Resistance1-  66.63,  Pivot Point  65.32, 
Support1-  63.18,  Support2-  61.87
The stock has manages to trade and close below the 10 days and 50 days moving averages, from this level further downside of movement would be expected. One can go for short position in it at 259 for the target of 250.
Resistance2-  296.02,  Resistance1-  292.38,  Pivot Point  285.27, 
Support1-  281.63,  Support2-  274.52.


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