NBCC (India) – Wave 3 Setup Backed by Strong Project Pipeline

After completing a textbook 5-wave advance into 130.70, where Wave 5 aligned exactly with the 2.618 extension of Wave 1 projected from Wave 4, NBCC corrected into 98. That low now marks a clean green Wave 2.

• The recent bounce to 117.20 formed Wave 1 of a higher-degree Wave 3.
  
• Price has retraced into the 104–105 zone (0.618 Fib) with visible volume expansion, suggesting accumulation.
  
• Invalidation/SL sits at 98, making risk well-defined.
  
• Breakout above 117.20 opens the path toward 130.70+ and potentially much higher, in line with the 2.618 Fib target around 130.65.
  

Fundamentals in Brief

• Market cap: ₹295.9B
  
• P/E ratio: ~50.8, indicating premium valuation but supported by steady order book growth.
  
• Revenue (FY24): ~₹115.9B, with Project Management Consultancy (PMC) as the major contributor.
  
• Debt: Effectively zero – NBCC runs a net cash balance sheet, giving it flexibility.
  
• Dividend yield (TTM): ~0.8% – small, but consistent payouts.
  
• Margins: Net margin steady around 5–6%.
  

NBCC’s fundamentals support its technical setup: low leverage, steady revenues, and government backing in project management give confidence that the bullish Elliott Wave count has room to play out.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.