🖊️ NBCC (India) Ltd. Weekly – Cup & Handle Pattern Developing, Key Resistance Zone Overhead

📊 1. Price Action & Pattern NBCC (India) is in the process of forming a potential Cup and Handle pattern on the weekly timeframe after a substantial rally and subsequent multi-month consolidation. The price has defended support in the ₹98–₹100 region and is building a handle formation with higher low structure. The critical resistance zone is identified at ₹128–₹140, coinciding with the cup rim and trendline overhead. 📈 2. Key Levels Immediate Support: ₹98 Major Support: ₹74 Immediate Resistance: ₹128–₹140 (trendline + cup rim confluence zone) 📉 3. Indicators Volume: Noticeable surges during up-moves; however, breakout confirmation would require a fresh increase in volume. Other Observations: Price structure remains constructive above ₹98, with the cup and handle pattern adding further bullish potential if resistance is cleared. 🧠 Technical Summary Trend: Long-term uptrend remains intact with a corrective phase. Cup & Handle formation signals continuation potential if breakout is achieved. Setup: Price consolidating near key support. A breakout above ₹140 will complete the pattern and can lead to significant upside. Trigger Point: Weekly close above ₹140 for bullish confirmation. Failure to break may extend the handle or trigger retest of supports at ₹98/₹74. 🔎 Conclusion “NBCC (India) is setting up a classic Cup & Handle pattern. Confirmation comes above ₹140, potentially igniting a trend continuation, while defending ₹98/₹74 is essential for the bullish base.” 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.