#NMDC making shampoo pattern on weekly timeframe, go long?NMDC on weekly time frame is making a pattern named after a popular shampoo brand, "Head & shoulders :). Generally in Inverted head shoulder pattern breakout we can calculate the target basis range breakout method, so according to me above 134.5 it should touch 191 in coming months. But before touching 191 there are multiple resistances at 142/150/157/169, so we need to be careful around these levels.
NMDC trade ideas
NMDC LONGChart is self explanatory. Please follow the price action & take the trade as per your appetite.
The information provided here is only for educational purpose. The information provided here is not intended to be any kind of financial advice, investment advice, and trading advice. Investment in stock market is very risky and trading stocks, options and other securities involve risk. The risk of loss in stock market can be substantial. Moreover, I am not a SEBI registered analyst, so before taking any decision or before investing in any Share consult your financial advisor and also do your analysis and research.
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NMDCThe scrip has recently given a breakout after few weeks of consolidation. It is forming a bullish price action and can be added for long. It has a immediate support marked with green color where further positions can be added. All the levels are marked on the charts. Any further updates would be posted here.
NMDC Long Chart is self explanatory. Please follow the price action & take the trade as per your appetite.
The information provided here is only for educational purpose. The information provided here is not intended to be any kind of financial advice, investment advice, and trading advice. Investment in stock market is very risky and trading stocks, options and other securities involve risk. The risk of loss in stock market can be substantial. Moreover, I am not a SEBI registered analyst, so before taking any decision or before investing in any Share consult your financial advisor and also do your analysis and research.
Request your support and engagement by liking and commenting & follow to provide encouragement.
Potential Trade Opportunity in NMDCNMDC presents a potential trade opportunity and the rationale is as follows.
1) Price broke out of the descending trendline with good volumes.
2) Price consolidated for 12 trading sessions near the previous resistance and has given a breakout with good volumes.
We can target for a 4%, 8% and 12% with an initial small risk of 4% (trailing stoploss to be followed later)
THIS IS NOT A CALL, CHART IS SHARED AS A KNOWLEDGE MATERIAL TO BE USED ONLY FOR EDUCATIONAL PURPOSES
NMDC - LOOKING FOR A NEW LIFENMDC is India State owned mines companies which has done well over a long term period. Looking at long term chart this stock seems to be in consolidation mode for a very long period over 12 years. The stock is getting a new life as it has fundamentally repaid the loans and is in net cash. I would still wait for the stock to cross 140 level and stabilize before we can call it a breakout. Would wait and watch how the stock price reacts and also keep an eye on the iron ore prices.
NMDC nudging ahead...NMDC (National Mineral Development Corporation) Ltd. is a government undertaking and also India’s largest producer of iron ore. It produces more than 35 million tons of iron ore from three merchandised mines in Chhattisgarh and Karnataka.
NMDC CMP is 107.50. Negative aspects of the company is declining annual net profits. Positive aspects of the company are improving cash from operations annual, no debt, FIIs are increasing stake, MFs are increasing stake and zero promoter pledge. Dividend yield of NMDC at CMP is 3.5%.
Entry can be taken after closing above 110. Targets in the stock will be 114.40 and 118.15. Long term target in the stock will be 122.25 and 126.70. Stop loss in the stock should be maintained at closing below 99.
NMDC Stock Analysis | DowntrendNMDC Stock is trading in downtrend making lower highs and lower lows.
The price reached 104 support area and bounced but got rejected by Daily 200MA near 110.
As of now , I expect price to trade in between a range of 104-110.
If daily closes above 110, we can look to buy.
If daily closes below 104, exit your position.
We can also trade the short term range of 104-110 buy buying at 104 and selling at 110.
NMDC Low Risk High Reward IdeaAs per my analysis, best level to take buy entry on NSE:NMDC is 107 with stop loss of 103 (-04 Points Risk). We can get upside target of 109.60 & 118 (+11 Points). This could be low risk and high reward idea.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.