NBCC (India) Limited (NBCC) Stock - Complete Technical Analysis - Nov 29, 2024

NBCC India Stock Technical Analysis Support, Resistance & Key Patterns for Traders Nov 2024

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. NBCC (India) Limited stock is currently priced at 99.22, which is significantly below its 52-week high but well above its 52-week low, reflecting strong recovery potential. The technical indicators show a mix of bullish and cautious signals.

The ADX at 31.28 suggests that the stock is in a strong trend, but the RSI at 54.08 signals neutrality, not giving clear overbought or oversold indications. The Stochastic Oscillators 76.46 reading hints at overbought conditions, so caution is advised. The MACD being in negative territory points towards a potential bearish momentum in the short term.

The chart patterns highlight a bullish "Three White Soldiers" pattern, signaling a potential continuation of the upward trend. However, the "Spinning Top" candle on November 29th suggests some indecision in the market. For traders, key resistance is at 100.38, while support is found at 96.50. A breakout above 100.38 could push the stock higher, while a drop below 96.50 could indicate a bearish shift.

With an ATR showing increased volatility, NBCC may experience significant price swings. Traders should be cautious of potential reversals but watch for breakouts above 100.38 or breakdowns below 96.50 for actionable moves.