NBCC Daily Chart
In daily chart of NBCC price has formed a head and shoulder pattern.
Today price has closed below the neckline indicating continuation of the downtrend in this stock.
This breakdown indicates the price target of 98 which is August 2013 low (95).
However price may take support near (128-132) ascending trendline drawn in the chart .
Today there was negligible volume which indicates that this may be a false breakdown.
Closing above 152 will negate this view.
CMP 137 downside 98. sl 152.
Regards
In daily chart of NBCC price has formed a head and shoulder pattern.
Today price has closed below the neckline indicating continuation of the downtrend in this stock.
This breakdown indicates the price target of 98 which is August 2013 low (95).
However price may take support near (128-132) ascending trendline drawn in the chart .
Today there was negligible volume which indicates that this may be a false breakdown.
Closing above 152 will negate this view.
CMP 137 downside 98. sl 152.
Regards
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