NBCC is continuously moving in an uptrend. It has given a breakout from an important resistance with a big bullish green candle. If the stock manages to close above Rs 119 then our Target 1 will be Rs 134.60, and Target 2 will be Rs 154. The stock is experiencing a good buying volume from that trendline breakout even though it has even crossed 50-MA in the volumes chart.
Except for Punjab National Bank, the brokerge has ‘Buy’ rating on the remaining five PSU bank stocks under its coverage. They included Indian Bank, Union Bank, Bank of Baroda, SBI and Canara Bank.
Indian Bank s board has set the floor price for the QIP at Rs 414.44 a share, a discount of around 5.5 percent from the December 12 closing price of Rs 437.20 on NSE
Even after the recent correction, the index has surged about 21 per cent in the last six months, 42 per cent in the one year, 67 per cent in two years and 280 per cent in the last three years.