NBCC: Poised for a Potential Comeback?
🛡️ Price: Around **85.85 INR** (currently) – Consider scaling in if it reaches the **"Retracement Zone for Wave B" of 82.26 INR.**
🎯 Target: **107-110 INR** (Target at Wave C)
🛑 Stop-Loss: **Daily close below 79.4 INR**
🤔 Why this trade?
✅ Approaching retracement zone – potential strong support.
✅ Potential for a good Risk/Reward.
✅ Wave pattern suggests an upcoming upswing.
💡 Pro Tip: The chart shows a clear downtrend followed by a retracement. If the price consolidates within the retracement zone and shows **bullish divergence** on indicators like **RSI** or **MACD**, it could signal a potential reversal. **Watch for a break above the short-term downtrend line** for additional confirmation before entering.
⚠️ Risk/Reward Calculation (Example - You MUST calculate your own based on YOUR entry):
Let's assume entry at **82.26 INR** (bottom of the retracement zone) and the defined stop-loss of **79.4 INR**:
🔹 **Potential Gain (using midpoint of target zone):** 108.5 - 82.26 = **26.24 INR**
🔹 **Potential Loss:** 82.26 - 79.4 = **2.86 INR**
🔹 **Risk/Reward Ratio:** **26.24 / 2.86 = Approximately 9.17:1**
🙏 Important:
🚨 This is just an idea, **not financial advice.**
⚠ **Trading has risks – you could lose money.**
🧐 **Do your own research before making any trades.**
#Nifty #StockMarket #Trading #TechnicalAnalysis #DayTrading #SwingTrading #Investment #MarketAnalysis #StocksToWatch #BullishSetup #Nifty #BankNifty #GIFTNIFTY
