NHPC Share Price Overview
As of September 30, 2023, at 12:00 PM, NHPC shares are currently trading at ₹95.14, reflecting a modest decrease of -0.14% from the closing price of the previous day. Meanwhile, the Sensex index is also down by -1.12%, trading at ₹84,610.85. Today, NHPC shares have experienced a high of ₹96.15 and a low of ₹94.41, indicating some volatility in the stock price.
Technical Analysis
From a technical perspective, NHPC is currently trading above the 5, 10, and 300-day Simple Moving Averages (SMA), suggesting short-term strength. However, the stock is below the 20, 50, and 100-day SMAs, indicating potential resistance. Traders should look for support at the 5, 10, and 300-day SMAs, while facing resistance at the 20, 50, and 100-day SMAs.
Key Support and Resistance Levels
The classic pivot level analysis identifies significant levels for NHPC stock. The key resistances are positioned at:
| Resistance Levels |
|---|
| ₹96.73 |
| ₹97.79 |
| ₹99.58 |
Conversely, the crucial support levels are as follows:
| Support Levels |
|---|
| ₹93.88 |
| ₹92.09 |
| ₹91.03 |
Market Activity
As of noon today, NHPC’s volume traded on both the NSE and BSE has seen a decrease of 56.60% compared to the previous trading session. Trading volume is a critical metric as it reflects the strength behind price movements; a positive price shift with higher volume typically suggests a sustainable upward trend, while a negative adjustment with increased volume could signify further declines.
Market Sentiment and Stock Outlook
Mint’s technical analysis indicates that initial signs of a potential trend reversal are becoming apparent following a recent downtrend. Investors are advised to remain cautious while also considering the broader market conditions, where NHPC’s share price has slumped -0.14% today, amidst a backdrop of mixed performance from its peers such as JSW Energy and SJVN.
Fundamental Analysis
From a fundamental standpoint, NHPC showcases a Return on Equity (ROE) of 9.58% and currently holds a Price-to-Earnings (P/E) ratio of 26.50. The stock exhibits a median 1-year forecasted upside of 2.74%, with a target price set at ₹97.75. The company’s promoter holding stands sturdy at 67.40%, complemented by a modest growth in mutual funds (MF) and foreign institutional investors (FII) holdings, which have increased to 5.22% and 8.96% respectively since March.
Conclusion
In summary, NHPC demonstrates a blend of technical strengths and some fundamental stability, which may appeal to investors looking for value in volatile market conditions. However, with the current market sentiment leaning towards caution, thorough analysis and vigilance will be required to navigate this dynamic landscape.
