Following its all-time high, NLC India has been consolidating in a sideways pattern, which can be interpreted as a bullish triangle formation—often a precursor to an uptrend continuation. This thesis was strongly supported this past week by a powerful +14.97% rally on a massive volume spike, indicating a potential end to the consolidation phase.
However, the stock is now confronting a formidable, long-term horizontal resistance level that has been in place for over a decade (since December 2007). This same trendline has rejected multiple breakout attempts since December 2023. For the bullish momentum to translate into a new leg up, NLC India must decisively breach and hold above this historical barrier. A successful breakout could clear the path for a new all-time high and a near-term target of ₹311.
Price-action will decide the way forward.
However, the stock is now confronting a formidable, long-term horizontal resistance level that has been in place for over a decade (since December 2007). This same trendline has rejected multiple breakout attempts since December 2023. For the bullish momentum to translate into a new leg up, NLC India must decisively breach and hold above this historical barrier. A successful breakout could clear the path for a new all-time high and a near-term target of ₹311.
Price-action will decide the way forward.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.