NBCC is forming a Cup and handle pattern on the weekly charts and has closed above both the moving average.
It has closed near the resistance zone and on the daily charts, has taken support form the 200 ema and closed above both the moving averages.
61.8% fibonacci levels also coincide with the resistance area and if the zone is cleared there are chances of...
On Daily chart taking Support on trend-line. If it
breaks the trend-line then there are chances of
downtrend.If it breaks the demand zone marked
by green zone, the on retest there are chance of
position for SHORT for the target of 49.40 and 43.7
and
Vice-versa.
.
.
.
This is my personal Opinion about NBCC
Take it as educational purpose. I am not SEBI registered...
Breakout on downside at the cup and handle pattern and symmetrical triangle pattern as sell volume increase in last 2 days.
Downward target at 44.75 in the next 50 days time frame from CMP 54.05. Stock is already trading way below all the Daily moving averages. Strong sell can be observed.
