⚡ NHPC Ltd. – Symmetrical Triangle Near Breakout Zone

🔹 Price Action CMP: ₹87.17 (+0.28%) The stock has been consolidating within a symmetrical triangle pattern for several months, after a strong rally from mid-2023. Price action shows higher lows support trendline converging with lower highs — a classic setup for a volatility contraction phase ahead of a directional move. 🔹 Technical Observations Pattern: Symmetrical triangle with support near ₹80 and resistance around ₹92–94. Trend: Price trading above medium-term moving average; momentum gradually improving. RSI: Holding at ~55 with higher lows — suggests strength building below the surface. Volume: Stable but subdued; a breakout candle with volume expansion would be decisive. OBV/Strength Indicator: Flat structure showing neutral accumulation, likely awaiting breakout confirmation. 🔹 Key Levels Immediate Resistance: ₹92–94. Major Resistance: ₹100. Immediate Support: ₹84. Major Support: ₹77. 🔹 Strength & Risk ✅ Price compression within the triangle hints at energy build-up. ✅ RSI momentum structure supports potential upside continuation. ✅ Long-term trendline from 2023 remains unbroken. ❌ Lack of strong volume signals caution until breakout confirmation. ❌ Breakdown below ₹77 may delay the pattern resolution. 🔹 Outlook The broader setup indicates price coiling within a medium-term consolidation, preparing for a potential breakout move. Momentum oscillators and structure favor an eventual trend continuation once price crosses above ₹92 with volume confirmation. 📢 Disclaimer: This analysis is for educational purposes only and not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)