NBCC Stock Forecast

On Tuesday, NBCC stock price gained an impressive 7.78%
(Updated on Apr 23, 2024)

NBCC.BO Signals & Forecast

Mostly positive signals in the chart today. The NBCC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹127.54 and ₹124.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 22.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for NBCC stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹126.96 and ₹114.74. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NBCC finds support just below today's level at ₹126.96. If this is broken, then the next support from accumulated volume will be at ₹114.74 and ₹105.25.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹11.30 between high and low, or 9.01%. For the last week, the stock has had daily average volatility of 5.52%.

Our recommended stop-loss: ₹127.35 (-5.24%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (NBCC.BO) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect NBCC to open at ₹132.13, and during the day (based on 14 day Average True Range), to move between ₹127.28 and ₹141.52, which gives a possible trading interval of +/-₹7.12 (+/-5.29%) up or down from last closing price. If NBCC takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹126.96 (5.54%) than the resistance at ₹142.05 (5.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NBCC stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.833 Buy Candidate Upgraded

Predicted Opening Price for NBCC of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.