![](https://bl-i.thgim.com/public/incoming/v1jjyc/article68157202.ece/alternates/LANDSCAPE_1200/NLC%20India.jpg)
The short-term outlook for NLC India is bearish. The stock has been facing strong resistance around â¹228 over the last few days. The price action indicates the presence of strong sellers around â¹228. A negative moving average cross over on the daily chart also strengthens the bearish case. It indicates that any bounce could be capped and fresh sellers are likely to come into the market at higher levels.
NLC India share price can fall to â¹195 in a week or even earlier that if the fall gains momentum. Traders can go short now at â¹213. Add more shorts at â¹224. Keep the stop-loss at â¹231 initially. Trail the stop-loss down to â¹210 as soon as the stock falls to â¹207 Move the stop-loss further down to â¹206 when the price touches â¹201. Exit the shorts at â¹196
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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