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NBCC Technical Analysis #89: Sell | Target Rs 30 | Arijit Banerjee

OUR RECOMMENDATION

CMP#33.1
IdeaSELL
Sell Range34.6 – 33.1
Target30 – 29
StopLoss*36.5
Duration15 – 20 Trading Sessions
Potential Return^9 – 12%
CMP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
33.1SELL34.6 – 33.130 – 2936.515 – 20 Trading Sessions9 – 12%

# CMP on Oct 04, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 32.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

NBCC India Limited engages in project management and real estate development business in India and provides engineering, procurement and construction services. The company develops residential, commercial and institutional projects and also involved in post-construction maintenance activities.

Stock Data
NSE CodeNBCC
Sectoral IndexNifty Infra
52W High68.85
52W Low28.5
Face Value1
Relative Performance_National Buildings vs Nifty Infra Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • The stock price has been moving in a consistent downtrend since May 2018.
  • Recent price is just near the upper bound of the downward sloping channel. Base on the past price pattern, stock seems to move downwards from here.
National Buildings Weekly Chart
National Buildings Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Lower Tops and Lower Bottoms at Daily Charts.
  • The stock price has recently made downside breakout from it’s support and moved below the immediate Rs. 35 levels.
  • A daily momentum indicator MACD is showing negative crossover which considered bearish and helps to propel further downside movement.
National Buildings Daily Chart
National Buildings Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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