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⭐️ Ultra Equity Advice #113 | Sell | Expected Profit 10-11% | Arijit Banerjee

OUR RECOMMENDATION

  Sell    NBCC (India)  

CP#31.25
IdeaSELL
Sell Range32.5 – 31.25
Target28.9 – 28.5
StopLoss*33.8
Duration15 – 20 Trading Days
Potential Returns^10 – 11%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
31.25SELL32.5 – 31.2528.9 – 28.533.815 – 20 Trading Days10 – 11%

# CP – closing price on Feb 10, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 30.
^ Potential returns are calculated based on the median of sell range.

COMPANY OVERVIEW

NBCC (India), formerly National Buildings Construction Corporation Ltd engages in project management consultancy, EPC contracting and real estate development business in India and across the world. This blue-chip Government of India Navratna Enterprise also offers various civil construction projects including residential and commercial complexes, educational buildings, hospitals, roads etc. The company also executes various projects like coal handling plants, bridges, water treatment plants, airports, runways, metro stations and border fencing etc. NBCC reported consolidated net loss of Rs 99.19 crore for the quarter ended September 30, 2019, compared to Rs 69.11 crore profit reported during the corresponding period of 2018-19.

Stock Data
NSE CodeNBCC
Sectoral IndexNifty Infra
52W High68.3
52W Low28.5
Face Value1
Relative Performance_NBCC vs Nifty Infra Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • The share price of NBCC has been a declining trend since it’s lifetime high of ₹ 145.65 registered during November 2017.
  • Stock Price recently make Breakout below the crucial Weekly support of last 24 weeks, at 33.5.
NBCC (India) Technical Analysis - Weekly Chart
NBCC (India) Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • On the daily chart, the stock has given a breakout from its rangebound move in which it had been trading for more than five months, suggests robust downside movement.
  • The stock is moving in a strong downtrend by making lower high, lower lows on the daily chart.
  • ADX and -DI crossing above 30 indicate selling momentum and probable further fall.
NBCC (India) Technical Analysis - Daily Chart
NBCC (India) Technical Analysis - Daily Chart

LIVE UPDATE - POSITION & ACTIVITIES

Position: Short NBCC at ₹ 31.40 by GoodluckCapital on TradingView

Position: Short NBCC at ₹ 31.40 by GoodluckCapital on TradingView

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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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