IEX has closed above EMA 9 & 20 the stock has taken multiple rejections from EMA 50 line which also acts as main resistance to the stock price since a long time. The stock is expected to reach the target price by taking its previous price actions.
The stock price may retest EMA 50 before hitting Target 2. Place stop loss GTT trade while taking the position.
remember to authorize the sell every morning to execute the GTT trades successfully.
Note,: This trade idea is entirely upon my personal observation, this is not a recommendation or call. I request you to do your own research before taking the trade. Do comment for any doubts or clarification.
nice work bro can u help me with tata steel .idea.nmdc too
harshith67
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@decimalDealer9156, Tata Steel just B/O a resistance, with fib 0.5 consolidation. 117 and 126 can be the targets with 106 or below as stoploss. nifty metal index is near a fib 0.618 resistance. Nifty is also at resistance. so allocate reasonable capital with low quantity NMDC Is good stock, u can accumulate it for long term, haven't looked at it thoroughly so my view is neutral. Idea is not at good point. the view is not great as of now. u can invest the money in bharti airtel which has better business model at present. Idea may give a big move, but not yet a wealth creator.
harshith67
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@decimalDealer9156, NMDC is goin to demerge its steel division in this Fy or next. which creates value for shareholders. so it can be accumulated. it has good dividend yield.
pranavupdhyay007
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please help me to sjvn Ltd
harshith67
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@pranavupdhyay007, sure, It is not a buy for now. if you are planning for a long term perspective buy on the dips. it may retrace touching 40 levels which is its all time high. so for long term you can buy in SIP mode and for swing this is not the right time to buy.