NBCC (India) Limited (NBCC) Stock - Complete Technical Analysis - Oct 08, 2024

NBCC (India) Limited Technical Analysis: Key Levels & Market Trends

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Analyzing NBCC (India) Limited, we see the stock currently trading at 115.29, approximately 17.55% below its 52-week high of 139.83 and a staggering 200.47% above its 52-week low of 38.37. This significant fluctuation suggests a strong volatility trend, which traders should consider when planning their positions.

The recent price action indicates a potential reversal pattern, with a Doji and a Spinning Top formed in the last session, signaling market indecision. The stock opened at 115.15, reached a high of 116.00, and a low of 110.38, closing at 115.29. Notably, the drop from the previous close of 115.83 reflects a bearish sentiment.

Technical indicators like the Average Directional Index (ADX) at 15.31 suggest a weak trend, while the Relative Strength Index (RSI) hovering around 46.66 indicates the stock is in a neutral zone. The Stochastic %K is nearing overbought territory at 66.71, implying potential resistance. Meanwhile, MACD indicates bearish momentum, reinforcing the current trend.

With support levels identified at approximately 111.69 and 103.84 and resistance at 119.84 and 125.96, traders should closely monitor price movements around these levels for potential entry or exit points. The price trends over the last five days, with notable fluctuations, indicate sudden drops and surges, warranting caution.

Overall, with the strong fundamentals like a P/E ratio of 62.6, ROCE at 30.7%, and a healthy ROE of 23.0%, NBCC (India) Limited may offer long-term potential, but short-term volatility requires careful analysis and strategy.