NCC Share Price Achieves Fresh Breakout Above ₹338:- NCC Limited, a prominent player in the construction and infrastructure sector, has reached a new milestone. Specializing in the construction of roads, buildings, irrigation systems, water and environmental projects, electrical works, metals, mining, and railways, NCC is also involved in significant road and energy projects. Read more Short term suggestion in our blog post on "Short Term stocks".
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| NCC Share Price Achieves Fresh Breakout Chart |
NCC Hits Record High
Today, NCC's share price hit a record high, achieving a new 52-week peak of ₹337.60. This impressive performance highlights the stock's potential and market confidence, making it an attractive option for investors. Notably, NCC is part of the esteemed Rekha Jhunjhunwala portfolio, which adds an additional layer of credibility and interest.
Fresh Breakout Above ₹338
NCC's share price has recently broken out above the ₹338 level, signaling potential upward momentum. This breakout is a key indicator for investors, suggesting further gains in both intraday and short-term trading.
Intraday and Short-Term Targets
For intraday traders, the new breakout suggests potential targets of ₹345, ₹350, and ₹360. These levels offer attractive opportunities for quick gains within the trading day.
For those with a short-term investment horizon, the share price could reach targets of ₹350, ₹375, and ₹390. This optimistic outlook is based on the current market trends and the strong performance of NCC.
Stop-Loss Consideration
To manage risk, investors should consider a stop-loss below the ₹305 price level on a closing basis. This strategy helps protect against significant losses should the market experience a downturn.
Conclusion
NCC Limited's recent breakout above ₹338 and its new 52-week high of ₹337.60 make it a noteworthy stock to watch. With promising intraday and short-term targets, and backed by the credibility of Rekha Jhunjhunwala's portfolio, NCC presents a compelling opportunity for both traders and investors. However, always remember to implement a stop-loss strategy to mitigate potential risks.
Stay tuned for more updates on NCC and other promising stocks in the market. Happy trading!
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