The short-term outlook is bullish for NBCC (India). The stock surged over 4 per cent on Monday when broader markets were beaten down. Monday’s rise confirms an inverted head and shoulders pattern on the chart. The neckline support of this pattern is around ₹101. Fresh buyers are likely to come into the market around this support level and limit the downside. Moving average crossovers on the daily chart also strengthen the bullish case. The NBCC (India) share price can rise to ₹118 in the coming weeks.

Traders can buy NBCC (India) shares now at ₹104. Accumulate on dips at ₹102. Keep the stop-loss at ₹96. Trail the stop-loss up to ₹107 as soon as the stock goes up to ₹110. Revise the stop-loss higher to ₹111 and ₹114…