Indian Bank, Ashok Leyland, NCC, Bharti Airtel

Indian Bank, Ashok Leyland, NCC, Bharti Airtel

Indian Bank, Ashok Leyland, NCC, Bharti Airtel

Indian Bank, Ashok Leyland, NCC, Bharti Airtel

Aurobindo Pharma, Brigade Enterprises, Eicher Motors, India Macro, NCC, Oracle Financial, Oil India, Voltas

Aurobindo Pharma, Brigade Enterprises, Eicher Motors, India Macro, NCC, Oracle Financial, Oil India, Voltas

Cipla, Divi's Laboratories, Nagarjuna Construction

Cipla, Divi's Laboratories, Nagarjuna Construction

Nagarjuna Constructions Ltd

Nagarjuna Constructions Ltd

Jet Airways, Manappuram General Finance, NCC, Persistent Systems

Jet Airways, Manappuram General Finance, NCC, Persistent Systems

Nagarjuna Constructions

Nagarjuna Constructions

Nagarjuna Constructions

Nagarjuna Constructions

Nagarjuna Construction Company

We recommend a sell in the stock of Nagarjuna Construction Company from a short-term perspective. It is evident from the charts of the stock that it had been on an intermediate-term uptrend from March 2009 low of Rs 34 until it encountered significant long-term resistance in the band between Rs 190 and Rs 200 in April 2010.

Educomp, GAIL, Hindalco, IVRCL, NCC, Piramal Healthcare, Rolta, Tata Motors, Tulip Telecom

Educomp, GAIL, Hindalco, IVRCL, NCC, Piramal Healthcare, Rolta, Tata Motors, Tulip Telecom

Nagarjuna Construction

Nagarjuna Construction

Tata Motors, Hindalco, IVRCL Infrastructure, Piramal Healthcare, Nagarjuna Constructions, GSPL, GAIL, India Economy

Tata Motors, Hindalco, IVRCL Infrastructure, Piramal Healthcare, Nagarjuna Constructions, GSPL, GAIL, India Economy

NCC

NCC

Hindustan Unilever, Sun Pharma, Tata Chemicals, Tata Tea, Aban Offshore, Nagarjuna Constructions, IVRCL

Hindustan Unilever, Sun Pharma, Tata Chemicals, Tata Tea, Aban Offshore, Nagarjuna Constructions, IVRCL

Nagarjuna Construction Company

Investors with a short-term trading perspective can sell the stock of Nagarjuna Construction Company. The stock faces strong medium-term resistance at Rs 185 and it has failed to move past it despite multiple attempts to breach this level since last October. The stock reversed lower from the peak of Rs 185 on April 9 and it has been in a down-trend since then.

The stock's down-move has accelerated over the past three sessions and it has lost 7 per cent in this period. The daily momentum indicators have moved into the neutral zone from bullish territory. The 10-day rate of change oscillator is on the brink of moving into the bearish zone while the moving average convergence oscillator is about to signal a sell. The stock could move lower to Rs 162 or Rs 155 in the days ahead. Short-term investors can sell the stock with stop at Rs 173.

Traders can consider shorting the near month future of Nagarjuna Construction with the stop at Rs 171.5 and the targets of Rs 164.5 and Rs 162.

Nagarjuna Construction Ltd

Nagarjuna Construction Ltd

DLF, Voltas, PNB, IDFC, Union Bank of India, NALCO, Lanco Infratech, Nagarjuna Construction

DLF, Voltas, PNB, IDFC, Union Bank of India, NALCO, Lanco Infratech, Nagarjuna Construction

Nagarjuna Construction Ltd

Nagarjuna Construction Ltd

Nagarjuna Construction Ltd

Nagarjuna Construction Ltd

Nagarjuna Construction

We recommend a sell in the stock of Nagarjuna Construction Company from a short-term perspective. It is apparent from the charts that the stock was on an intermediate-term uptrend from its March low of Rs 34 to its July high of Rs 159 (a 52-week high). However, encountering significant resistance in the band of Rs 150 and Rs 160, the stock reversed direction. A negative divergence in the weekly relative strength index supports the stock’s reversal. Since July peak, it has been on a short-term downtrend. On August 10, the stock tumbled 6 per cent penetrating its intermediate-term uptrend-line as well as 50-day moving average. Moreover, the stock reinforced the downtrend by slipping 6 per cent on August 17. The daily RSI is on the brink of entering the bearish zone and weekly RSI has entered the neutral region from the bullish zone. We are bearish on the stock from a short-term horizon. We expect it to decline until it hits our price target of Rs 109. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 129.

via BL