Bullsofodisha

NMDC IS ONCE AGAIN A BUY ON TECHNICAL CHARTS

Long
NSE:NMDC   NMDC LTD
The stock of government-owned mineral producer NMDC more than doubled investor's wealth in the last 12 months.

Reasons: It has been in a rangebound trade since hitting a 52-week high of Rs 213.15 on 12 May 2021, but now the stock seems to have resumed its next leg of the rally, 1. HH & HL confirming UT. 2. Breakout from trendline which was respected earlier.

Traders can look at buying the stock for a target of Rs 195-240 which translates into an upside of 13-32% in the next 1-2 months.

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