Nuvoco Vistas Corporation Ltd.

NSE :NUVOCO   BSE :543334  Sector : Cement

In the daily time frame, stock is moving in the form of a ‘Inverted Head & shoulder’ pattern. The right shoulder completed near the 357-358 level. Recently, stock has given a breakout from the neckline of the pattern and closed with a net gain of 4.32% . Stock formed a strong bullish candle in the previous session. The 9 days Moving average is acting very well on the stock. In addition, the Relative Strength Index (RSI) on the daily chart is 65 indicating strength in the stock.

In a Nutshell, the trend for NUVOCO looks to be positive now. Use dips as a buying opportunity for a move towards 390 levels as long as we do not see any closing below 340 levels.

Check More Analysis on NUVOCO at: Nuvoco Vistas Corporation Ltd