Maximum profit: Rs 17,000 if NBCC
closes at or below 48 on July expiry
Breakeven Point: Rs 51
-- Short build up is seen in the NBCC
Futures’ yesterday, where we have seen sharp rise in Open Interest with price falling by 3.8 per cent.
-- Stock price has broken down from the upward slopping trendline, adjoining the low of 14-Feb-2019, 16-May-2019 and 08-July 2019.
-- Stock price is trading below its 5, 20 and 200 day SMA Indicating weakness in the stock.
-- Oscillators and Momentum Indicators like RSI and MACD showing weakness in the stock on the daily and weekly charts.