|Sell Range||38.6 – 37.6|
|Target||34.8 – 34.5|
|Duration||15 – 20 Trading Days|
|Potential Returns^||9 – 10%|
|CP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Returns^|
|37.6||SELL||38.6 – 37.6||34.8 – 34.5||40||15 – 20 Trading Days||9 – 10%|
# CP – closing price on Jan 20, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 36.
^ Potential returns are calculated based on the median of sell range.
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 a net loss of Rs 91.01 crore for the quarter ended December 31, 2019, compared to Rs 79.29 crore profit reported during the corresponding period of 2018-19.
|Sectoral Index||Nifty Infra|
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price of NBCC (India) has been a declining trend since it’s lifetime high of ₹ 145 registered during Nov 2017.
- Earlier we had seen a false upside breakout in March 2019, as the price was moving lower afterwards.
- Presently, the stock price has placed near the falling resistance line as displayed in the weekly chart and based on historical price pattern a downfall is expected from here.
TECHNICAL OBSERVATIONS (DAILY)
- NBCC seems to have broken below from the last eight days price rally, as shown in the daily chart.
- The stock has formed ‘Shooting Star’ and ‘Hanging Man’ candlestick pattern in the last two consecutive days, which indicate bearish trend is developing and it may be good time to enter into a short position.
- The daily momentum indicator Stochastic is showing a negative crossover and also corrected from overbought zone 80, which is a sell signal.
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💡 NBCC India (NSE: NBCC) has formed Shooting Star' and 'Hanging Man' candlestick pattern in the last two consecutive days.— Goodluck Capital (@CapitalGoodluck) January 21, 2020
🔗 Original Post: https://t.co/nS55GXAzhr#technicalanalysis #trading #tradingtips #tradingstrategy #investment #hedgefund #financialmarkets #stocks #nbcc