A clear rounding bottom formation and breaking last 2 years highs. Q3 results were excellent ( from Dec 2019 net loss of -112 cr, dec 2020 has shown 9cr profit ). Govt shift towards make in India and a clear NO to chinese Telecom equipment going forward. Expect the order book to grow immensely.
Stock has already given a big big run up. So expect corrections. ...
chart is self explanatory, a long term downward slopping channel breakout is confirmed about 95, and stock is maintaining those higly strongl with good volumes. with is W pattern almost on the verge of the breakout Target can 35-50% from here.
Just buy and wait patiently..
Disclosure :- I own this @ 102 rs.
NBCC earlier broked the descending channel trendline in 1st week of June 2020.
A new new has emerged there after in Ascending channel and stock is moving like a discipline child in queue.
Now it has formed cup with handle pattern and looks like it has given a breakout too.
SL :- below the Trendline on closing basis. 1st resistance shown in chart. I am might be...
Excellent formation in JK Cement. Cup and handle formed just few points away from the all time high. Good thing is Feb has seen volume buildup.
Monday we have Q3 results....and hopefully it will crack everything.... Ready for big momentum.
BEL :- Some key points. All moving average +Ve
Today it managed to break 140.50 rs which was previous high made 2nd week Jan 2021 and faced resistance there. This time volume of day's candle exceeds that days' candle.
Jan OI had max Call writing on 140, and this Feb too it had max call writing but today -15% call writers left the positions..
There' some kind of rouding bottom formation happened and a breakout it confirmed. The next hurdle is 247, if that is crossed then 2 years trend will reversed.
Volume buildup in last 3 weeks suggesting it can touch those lvls.
Put SL below 190-192.