NCC Limited (NCC) Stock - Complete Technical Analysis - Sep 06, 2024

NCC Limited Stock Analysis: Bearish Patterns and Key Support Levels Explained

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.

NCC Limited's stock, currently trading around 316.15, shows mixed signals from a technical analysis perspective. The stock is trading 13.26% below its 52-week high of 364.5 and 131.53% above its 52-week low of 136.55, reflecting significant volatility and growth.

Support and Resistance Levels: Key support levels are observed around 297.5 and 275.95, while significant resistance can be expected near 351.6 and 384.15. The stocks current price is also below its major moving averages, including the 10-day, 20-day, and 50-day EMAs, which are around 322.00, suggesting that the stock might face resistance in the near term.

Technical Indicators: The Relative Strength Index (RSI) is at a neutral level, indicating neither overbought nor oversold conditions. The Average Directional Index (ADX) is low, showing a weak trend. The MACD is in the negative zone, reflecting bearish momentum. The Awesome Oscillator also supports a bearish outlook. The Stochastic %K and Stochastic RSI are in mid-range values, suggesting no clear trend direction at the moment.

Chart Patterns: The recent Bearish Engulfing and Evening Star patterns signal a potential bearish reversal. These patterns, combined with the recent close below significant moving averages, suggest that further downside could be possible if the stock fails to regain its footing above key support levels.

In summary, NCC Limited's stock appears to be in a cautious phase with bearish signals dominating, and traders should watch for either a bounce off support or further declines if resistance holds.