H&S pattern fomration in NBCC.
H&S support was on 23-24 levels.
Neckline of H&S is around 26-27, which is acting as a strong support.
A fall below this level rejected immediately as can be verified by a DOJI formation.
Major resistance is near 32 rs, which would be our target.
Go long with Tgt-32
after consolidating for around 2 weeks around 23-24 levels finally, it had shown breakout. volume is also good for last two days, MACD turned bullish on daily chart, RSI level(65.6) is also bullish. on the upside, the first major resistance stands at the level of 28.2 which is its 200days EMA(28.2) and also the Fibonacci level(50%...
to all viewer its a long term call. be patience
best price to buy 52.10
current market price 55.85, aggressive trader can buy at current level.
stop loss 46.40
1st target 66.90
2nd target 79.80
3rd target 90.70
4th target 102.60
5th target 108.85
6th target 122.05
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Kindly contact financial...
Breakout happened with high volume, But it keeps on failing for the last 2 days. One can confirm after the next candle. I am shorting this trade after two days.
Detailed suggestions and perspectives are welcome
NBCC broke out of a 1+ year parallel channel, this could be very bullish. But while breaking out of the channel, it also formed a rising wedge(Bearish). So, nbcc could be bearish short term, but bullish long term.
1) Completion of elliot wave
2) Strong Volume near last wave
3) Break of trendline
4) Company performance has been strong with good order inflow -- co got derated due to lag in revenue booking and increase in cost of capital