NLC India shares extended gains on Thursday, as technical indicators and rising institutional ownership suggested growing bullish momentum in the PSU miner.
Shares of NLC India rose 1.7% on Thursday, extending gains as the stock continued to show signs of a major technical breakout.
SEBI-registered analyst Rajneesh Sharma said the PSU miner’s chart setup looks “too good to ignore,” with multiple bullish formations emerging after nearly 18 months of sideways consolidation between ₹200 and ₹290.
He highlighted a high-tight bull flag, an inverse head and shoulders pattern, and a symmetrical triangle breakout, all aligning to signal an upcoming uptrend.
Technical Indicators Flash Bullish Signals
Sharma said that the 200-day exponential moving average (EMA) has consistently supported the stock during the consolidation. The relative strength index (RSI) has crossed a 1.5-year-old downtrend, and is now sustaining above 60, indicating increasing strength.
The moving average convergence divergence (MACD) indicator has produced a bullish crossover, and momentum has been building gradually. The relative strength (RS) line against the benchmark index has also turned positive, confirming the outperformance, he added.
Volume And Price Action Confirm Accumulation
According to Sharma, the volume profile supports a strong base formation, with activity rising during breakout attempts and dipping during pullbacks, a classic Wyckoff reaccumulation pattern.
He pointed out that the neckline of the inverse head and shoulders pattern near ₹270 has been successfully retested, suggesting the structure is complete.
Breakout Levels And Price Targets
Sharma said a decisive move above ₹290 could open the door for a sharp upward rally, potentially taking the stock toward the ₹500+ zone in the medium term.
He described the setup as a “high-base continuation setup” backed by long-term consolidation and institutional participation.
Smart Money Flows Into NLC India
Institutional investors have been increasing their exposure to NLC India during the consolidation phase, Sharma said.
FIIs upped their stake from 0.67% in March 2023 to 2.95% in June 2025. DIIs have more than doubled their holding from 6.89% to 14.25% during the same period.
Simultaneously, the shareholder count has almost doubled to 3.37 lakh, even as public shareholding has come down, suggesting accumulation of smart money.
Outlook
Sharma concluded that with technical indicators, volume patterns, and institutional trends all aligning, NLC India appears ready for its next leg higher once ₹290 is crossed with strong volume.
What Is The Retail Mood?
On Stocktwits, retail sentiment for NLC was ‘neutral’ amid ‘normal’ message volume.
NLC’s stock has risen 13.2% so far in 2025.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<