NBCC (India) Technical Analysis: Sell | Target Rs 34.8 | Arijit Banerjee

Sell Range38.6 – 37.6
Target34.8 – 34.5
Duration15 – 20 Trading Days
Potential Returns^9 – 10%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
37.6SELL38.6 – 37.634.8 – 34.54015 – 20 Trading Days9 – 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.

Stock Data
Sectoral IndexNifty Infra
52W High68.3
52W Low28.5
Face Value1
Relative Performance_NBCC (India) vs Nifty Infrastructure Index


  • 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.
NBCC Technical Analysis - Weekly Chart
NBCC Technical Analysis - Weekly Chart


  • 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.
NBCC Technical Analysis - Daily Chart
NBCC Technical Analysis - Daily Chart


Based on our short term trading share tips, NBCC share price target will be 184 – 187 in the next few days.


Sell NBCC (India) | Expected Profit 9-10% | Arijit Banerjee by GoodluckCapital on TradingView

Sell NBCC (India) | Expected Profit 9-10% | Arijit Banerjee by GoodluckCapital on TradingView

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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.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


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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