3 reasons for a positive outlook.
1- NMDC is trying to bounce back from the Fibbo 50% level.
2- Price has given the breakout of the falling trend line and trading above the breakout level.
3- MACD has turned positive after positive diversion.
It looks suitable short term trading with favorable RR ratio.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
1- NMDC is trying to bounce back from the Fibbo 50% level.
2- Price has given the breakout of the falling trend line and trading above the breakout level.
3- MACD has turned positive after positive diversion.
It looks suitable short term trading with favorable RR ratio.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
Trade closed: stop reached:
The market has rejected the analysis. Better to stop this analysis and move for a better search.