NEYVELI LIGNITE CORPORATION
- NEYVELI LIGNITE CORPORATION (Intraday) facing strong trend line resistance and support nearby in hourly chart, which indicates can see some intraday action once stock breaks its trend line support either up or down. (Trend Line Support around - 97, 94.50, 91) - (Trend Line Resistance around - 102, 104.50).
- (1-2 Days trading idea) - Daily chart indicates stock has formed triangle formation , which indicates sharp move is expecting once stock breaks and closes above or below its formation, close watch.
- (Short term trading idea) - Weekly chart indicates stock gave a sharp move from Rs 50 to Rs 110 and got corrected , close watch stock is now facing and holding 23.6% fibonacci retracement support as shown above, till stock holding this support it will favor bulls, but once it closes below on its 23.6% fibonacci retracement support then bears can take this stock down further.
- Stock was on news on 04th July 2014, Friday - NLC to generate additional 1,500 MW power in five months, NLC) owned New Thermal Power Stations in Tamil Nadu would generate additional 1,500 MW power within five months, a senior official has said.
