NMDC and NTPC Green Shares Recommended for Investment
Indian Stock Market Sees Strong Rally on Thursday
The domestic benchmark indices, Sensex and Nifty 50, rallied strongly on Thursday, 14 May, gaining over 1% each, marking the second consecutive session of advance despite lingering global and domestic headwinds. The Sensex surged more than 800 points to an intraday high of 75,492, while the Nifty 50 climbed over 250 points to trade above the 23,650 mark as of 11:50 AM. This rally added over ₹3 lakh crore to the market capitalisation of BSE-listed companies.
The upmove tracked gains across Asian markets, driven by optimism around artificial intelligence, which pushed South Korea's SK Hynix closer to a trillion-dollar valuation. Globally, investor focus remained on the high-stakes meeting between Donald Trump and Xi Jinping, amid ongoing geopolitical and macroeconomic uncertainties.
Market Views
Market analysts noted that the bounce back in the market continued amidst volatility on Thursday morning. The Nifty 50 is currently trading higher by 60 points. The sharp fall of previous few sessions has halted near the crucial support zone of around 23,100-23,150 levels (previous opening upside gap of 8 April and also 61.8% Fibonacci retracement support), leading to a minor bounce back.
| Stock | Current Price | Target Price | Stoploss Price |
|---|---|---|---|
| NMDC | ₹92.25 | ₹97 | ₹89 |
| NTPC Green Energy | ₹110.75 | ₹116 | ₹107 |
The market analysts have recommended buying NMDC at ₹92.25 with a target price of ₹97 and a stoploss price of ₹89, with a timeframe of 1 week. NMDC has shown a reasonable downward correction in the last week, followed by a sharp breakout recently. The last two sessions' price action indicates faster upside retracement of the previous decline. Volume has started to rise during the upside breakout in the NMDC share price, and daily RSI shows positive indication.
Similarly, market analysts have recommended buying NTPC Green Energy at ₹110.75 with a target price of ₹116 and a stoploss price of ₹107, with a timeframe of 1 week. The downward correction of the last few weeks seems to have reversed on the upside. NTPC Green Energy share price has bounced back after forming a new higher bottom at ₹106 levels recently. Volume and RSI pattern are indicating positive bias for the stock price ahead.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
Investors should consider investing in NMDC and NTPC Green Shares.
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