Share to buy this week by technicalpandetji

Looking at the daily time frame chart of NCC (national cadet corp), it has a good technical view of an uptrend with all the technical support of moving average, relative strength index, and also of  few trend lines.

1. LET'S SEE ALL THE TECHNICAL ANALYSIS IN DETAIL 

A. Trend line 

Looking at the image below we can see that there was a big downtrend which is broken, reversing the trend from downtrend to uptrend. After broking the downtrend line it moves up to the price of previse support which is now acting as resistance. Here comes the strong volume of the buyer and broke the resistance. To understand deeply I have explained the trend in the below chart image.

 B. Moving average

One of the secrets to the success of a big trader is the moving average used in their trading chart to find the trend. At some time moving averages also act as support and resistance to stock price. The most used moving average is the 20-period moving average. Using the 20 moving average we can clearly see the trend of the stock price is an uptrend with the strong support of the 20 periods moving average. In the below image u can see the 20-period moving average in yellow color moving up supporting the stock price to an uptrend. Its acts like support here. Putting the 150-period moving average on the chart which is in dark blue color we see 4-time resistance by it to the stock price now it is also broken finally hence marking the sign of stock bullish.

C.Relative strength index

Conventicle way of using relative strength index (rsi) is below 30 is oversold and above 70 is over brought. But this doesn't work nowadays. The new idea of using the relative strength index (rsi) is below 40 is a bearish trend and above 60 is a bullish trend and between 40 to 60 the stock or market is the side way.

The stock a few weeks ago broke the 40 rsi line came to the sideway market and move to all the up to 60 and 60  rsi line to act as resistance. Then to move back to 40 and take support of 40 rsi line move up broking the 60 rsi line making the stock bullish. Relative strength index (rsi) then moves back towards the 60 and taking the support of the 60 rsi line makes strong bullish to stock price. From the support of the 60 rsi line, it is still bullish. The below image explains the relative strength index (rsi).

D. Where to buy and sell the NCC stock

Buy the stock at 72-74 with the stop loss at 69-68 and book the profit at 80 for the first target and 88 for the second target and 99 is the third target.

About NCC ( National Cadet Corps )

1. What do National Cadet Corps do?

The National Cadet Corps in India is a voluntary organization that recruits cadets from high schools, colleges, and Universities. The Cadets are given basic military training in small arms and parades.

2. About headquarter and its runner 

the headquarter of the National Cadet Corps is in Delhi. It is jointly run by the Indian army, the Indian navy, and the Indian airforce with the help of the Indian government to train Indian youth in basic military training programs.