NBCC - Weekly LONGNBCC on the weekly chart shows a clear improvement in trend after a long corrective phase. The stock has shifted into a bullish structure by forming higher lows and is now trading above its key moving averages, which have started to slope upward. This indicates that the broader trend has turned positive and buyers are gradually gaining control. The consolidation between the 110–120 zone worked as a strong base, and the recent move above this range confirms a trend continuation rather than a temporary bounce.
From a candlestick and price action perspective, the latest weekly candle is strong and bullish, closing near its high. This reflects solid buying interest and acceptance of higher prices. The absence of long upper wicks suggests that selling pressure is limited at current levels. The earlier resistance around 118–120 has now turned into an important support area, which strengthens the bullish setup and indicates a potential breakout followed by continuation.
Momentum also supports the positive view. The RSI is placed around the 60 zone, which reflects healthy bullish momentum without being overbought. Importantly, RSI is holding above the 50 level, showing that the stock remains in a bullish momentum regime. There is no visible negative divergence, which means momentum is moving in line with price and supports further upside potential.
From a trading perspective, a safer entry can be planned on a retest or sustained hold near the 118–120 support zone with bullish price confirmation, while aggressive traders may consider entries on a strong weekly close above 121–122. The stop loss should be placed below 114 on a weekly closing basis to protect against trend failure. On the upside, the first target lies near 130, followed by a higher target in the 137–140 zone, which aligns with previous supply areas. Overall, the structure favors swing and positional traders, with a buy-on-dips approach being more suitable than chasing the price.
