NHPC Trendline Breakout Setup | Eyeing ₹113+ Target Zone

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NHPC has formed a bullish structure on the daily chart with multiple higher lows and now attempts a trendline breakout above the key zone of ₹87–₹91. This level overlaps with previous resistance and Fibonacci confluence, making it a critical breakout setup.

A successful breakout above ₹91.19 can propel prices toward ₹96+ and possibly ₹113 in the coming weeks.

Key Technical Observations:

Pattern: Ascending Trendline + Resistance Breakout

Breakout Entry: ₹87.77 to ₹91.19

Volume: Rising steadily, indicating accumulation

Resistance Zone: ₹92.34 (Target 1), ₹96.61 (Reversal Zone)

Target Levels (Fibonacci Extensions):

Target 1: ₹92.34

Target 2 / Reversal: ₹96.61

Target 3: ₹103.01

Extended Targets: ₹105.53 – ₹113.68

All-Time High: ₹118.40 (next major resistance)

Invalidation & Risk:

Breakdown below ₹84–₹82.78 zone invalidates the bullish setup

Price may revisit support near ₹76 or the broader support zone at ₹71 if breakout fails

Conclusion:
If NHPC sustains above ₹91 with volume, the breakout setup remains valid with good upside potential. Keep trailing stop loss as it approaches resistance zones.

Disclaimer:
This analysis is for educational purposes only. Not a recommendation. Always do your own research or consult a SEBI-registered financial advisor before investing.

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