NCC

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Can I buy NCC, al­though it is near 52-week high lev­els?

BUY NCC ABOVE RS 118

- Susil Ku­mar

NCC is cur­rently trad­ing at Rs 1105. Its 52-week high/low stand at Rs 114/Rs 71.20 made on Novem­ber 1, 2017 and Novem­ber 9, 2016, re­spec­tively. The Novem­ber 1 ses­sion was the fifth con­sec­u­tive up­beat on the weekly time frame. This sharp up­ward rally of nearly 38-40% in 5 weekly ses­sions is sup­ported by jus­ti­fi­able vol­umes. Now that the RSI is in the over­bought zone at 72 lev­els, the stock may see some profit-book­ing at the end of the cur­rent week. The stock is also ap­proach­ing its multi-year ma­jor re­sis­tance at Rs 118 level. Con­sid­er­ing the daily time frame, the stock wit­nessed a breather of four ses­sions and is again set for an­other rally. Hence we sug­gest you to en­ter the stock above Rs 118 level on a clos­ing ba­sis for the long term.

- Vadde Jaya

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