NeeteshJain
Short

NTPC in Bearish Butterfly Pattern (SELL)

BSE:NTPC   NTPC LTD
Weakness in buying due to following points:

1. Formation of Bearish Butterfly Pattern at 1.272, creating a high where most profit taking takes place

2. RSI divergence, weakness in trend and buying

3. Touching previous structure support now acting as resistance.

RISK & REWARD: 1:3
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can we short now?
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ANY UPDATES BROTHER?
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Kindly Exist your Short Positions and look for a retrace back at 150 levels to have long positions in the same. In case, it closes below 149.50, then you may re-enter your short positions for a target of 143.
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rocky NeeteshJain
THANKS FOR THE UPDATE
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