Trading NCC Ltd using Bollinger Bands

On the weekly charts of NCC Ltd, a bullish candle preceded by a hammer on the middle donchain channel is formed. The pattern can be defined as an evening star (not authentic). The volumes were good on the last bar, indicating accumulation. Meanwhile the longer & shorter term %R turned bullish. These indicates a good bullish sentiment in the stock.

The minimum expected target for donchain channel on weekly frame stands at 141.

Dropping down to the daily charts. A quick resistance is placed at 132 levels. Anyone interested in trading this stock should book profits near 132 levels. A decisive move above the 133 levels will take the stock to 141 and 152 levels. Also the stock as registered two closes in the Bollinger Band “B” zone that provides a buying signal above 128 levels.

If the stock falls below 115 levels, it will render the stock into sideways to bearish.

In short the trend on the weekly time frame has resumed to bullish, where as analyzing the daily time frame suggests that a move above 133 will infuse real power to the bulls to take the stock to the expected targets.

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

ProRSI is a premium trading mentorship program which helps you trade profitably

+91 9748173333

Mon - Sat 9.30 - 19.00

Sunday closed