NTPC Green Energy attempts a bullish reversal above ₹90 !

NTPC Green Energy attempts a bullish reversal above ₹90 NTPC Green Energy Limited (NSE: NTPCGREEN) is showing early signs of a potential recovery after finding demand around ₹87–₹88. According to Moneycontrol's October 9 technical analysis, the stock formed a bullish engulfing pattern and recovered above ₹90, with improving volume and momentum indicators. 1. What is happening? The stock was quoted at ₹90.80 in the published analysis. It had rebounded from its recent support zone and was approaching its Supertrend indicator. The RSI was recovering toward 50, while the MACD had produced a bullish crossover. Trading volume reportedly exceeded twice its recent average, suggesting stronger buying participation 2. Why it matters A bullish candlestick pattern near support can signal a change in short-term sentiment. However, the stock must sustain its recovery and attract further buying before a stronger trend reversal can be confirmed. For renewable-energy stocks, investors should also monitor project execution, funding requirements and broader sector sentiment. 3. My technical view The ₹87–₹88 region is the important demand zone. Holding above ₹90 would help maintain the recovery structure, while a move toward ₹100 would require continued buying interest.