The short-term outlook of NLC India is bullish. The stock surged 6 per cent on Wednesday breaking above the resistance level of ₹83 will act as a good resistance-turned-support. So, dip towards ₹83 will bring fresh buyers into the market.
Also, moving average cross overs on the daily chart indicates that the downside could be limited strengthens the bullish case. NLC India share price can rise to ₹97-98 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹85. Stop-loss can be placed at ₹81. Trail the stop-loss up to ₹89 as soon as the stock moves up to ₹91. Move the stop-loss further up to ₹92 when NLC India share price touches ₹94. Book profits at ₹96.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)