3 Sep 2020 ● 12:56 PM
NTPC - did rally recently and we did not go as far as 3=1, so wave 3 could be subdividing. Wave II of 3 is down and is now near the 20dma and 50% retracement mark at 96.70.
On the hourly chart we can see the clear 5 wvaes up and pullback and maybe wave I and II of III up did develop at 96.90. A move above 100.50 would be a further confirmation of this and 3=1 on this chart would go to 120 if that happens.