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The short-term outlook for NCC is bullish. The stock has begun the week on a strong note by rising 5.9 per cent on Monday. This confirms the end of the correction that was in place since September. It also indicates that a new leg of upmove has begun with in its overall long-term uptrend. Strong support is around ₹160. Any intermediate dips are likely to be limited to ₹160 as fresh buyer can emerge.
NCC share price can target ₹190 over the next two-three weeks. Short-term traders can go long now. Accumulate on dips at ₹163. Keep the stop-loss initially at ₹156. Trail the stop-loss up to ₹175 as soon as the stock moves up to ₹181. Move the stop-loss further up to ₹182 when the price touches ₹186. Exit the long positions in NCC at ₹190.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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