NBCC chart was posted back in April 2024 as a potential medium term breakout as shown in above post. The stock price since then has been facing stiff resistance between 43-45 range (marked in solid red lines) and in last couple of days managed to break out above this range after nearly 6 months . Today it retested the breakout zone. The pattern also resembles an ascending triangle breakout.
Need to see how the retest phenomenon goes and whether the rally resumes after a brief pause. This has been one of the tiring stocks, which has taken a long long time to provide a breakout. Management commentary in q4 fy 23 concall remained bullish. Plus the PSU companies sectoral rally is on in full swing.
disc: holding as disclosed earlier.
