NBCC may move to Rs 1060: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "National Buildings Construction Corporation (NBCC) need to cross Rs 1,020 and in that case expect another 4 percent move from that level and that is about Rs 1,050 to Rs 1,060. The chart pattern looks good, in fact it is in a range bound situation up to Rs 1,060 but at least you can expect it to move up to Rs 1,060 on the upside and take a long trade."He further added, "Housing Development and Infrastructure (HDIL) has tested its 89-day exponential moving average and that was there at highest high point of yesterday that is Rs 72. Once it crosses Rs 72 and sustains above that its 200-day exponential moving average is at Rs 77, a retest of that could be likely.""The chart pattern suggests a positive divergence on 14 relative strength index (RSI) and the Moving Average Convergence/Divergence (MACD) oscillator, so a long trade is warranted, above Rs 72, if you trade then put a stoploss below yesterday's closing level or even you can use that moving average as your stoploss level, but this is definitely a long trade candidate," he added.