|Sell Range||34.6 – 33.1|
|Target||30 – 29|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||9 – 12%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|33.1||SELL||34.6 – 33.1||30 – 29||36.5||15 – 20 Trading Sessions||9 – 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#
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.
|Sectoral Index||Nifty Infra|
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.
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.