NTPC Stake Sale - Trading action

For entering trade today in stocks futures I had given recommendations on 19th Oct, both for day trading and swing trading. For easy reference please check these two links -

http://archana-archdeb.blogspot.com/2009/10/swing-trade-for-19th-october.html and http://archana-archdeb.blogspot.com/2009/10/day-trading-recommendations-for-19-oct.html

However you may also add NTPC to the list because of the news flow yesterday.

NTPC has been accepted by Indian Govt for disinvestment. The cabinet has agreed for 5% stake sale of this state owned thermal power generation company, the largest in India valued at around Rs 1.7 trillion. Presently Govt owns 89.5% shares in the company, rest being held by the public. In 2008-09 the company had a profit of about Rs 78,270 million to a revenue of about Rs 4,21,820 million. The sale of shares of NTPC could net Rs 86,000 million to the Govt. This sure is sentiment enhancing news and one that could propel the stock northwards in today's trade. So my recommendation would read as follows :-

NTPC OCT Fut. Buy NTPC Oct Fut at 213/214 for day trading. You should target 220 as the initial sell point. However break above 220 should see the scrip sailing to 230 in 2/3 trading sessions.