NTPC - Strong trendline support, expect reversal

NTPC is currently holding above a crucial rising trendline support, keeping the broader structure constructive despite the recent consolidation. The immediate support zone is around ₹335–338, which is also close to the current price area and should be watched closely for any fresh buying interest. Below this, the ₹317–320 zone remains an important horizontal support and could act as a stronger base if the correction extends. On the upside, ₹350 is the first important resistance, and a sustained breakout above this level can bring the stock back into momentum, with ₹370–371 emerging as the next major resistance zone. I would remain positive as long as the rising trendline continues to hold. A decisive breakdown below the trendline, particularly if accompanied by sustained weakness below ₹335, would weaken the current structure and increase the probability of a deeper correction toward the ₹317–320 support zone. For now, the trendline remains the key level to track.