NBCC Hits Lifetime High Bagging Gains Over 4%

In the trading hours of Tuesday, shares of NBCC hit their lifetime high on account of buying by funds. The shares hit a lifetime high of Rs 252.70, reporting a gain of over 4%.

After consolidating for over two trading sessions NBCC has finally resumed its uptrend and has broken out from a Flag pattern on the hourly chart. This indicates that the short term trend is on a strong footing and is likely to further extend the momentum. Today’s move has also been accompanied by an increase in traded volumes.
So far, over 32 lakh shares were traded on the NSE as against a daily average of 16 lakh shares.

NBCC (India) Ltd is currently trading at Rs 249, up by Rs 9.65 or 4.03% from its previous closing of Rs 239.35 on the BSE.
The scrip opened at Rs 239.35 and has touched a high and low of Rs 252.85 and Rs 239.35 respectively. So far 39.28 lakh (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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About Bhoomi Desai