NMDC Ltd. wait for 125 to add new positions
Updated
Considering stock crossing 200DMA is very strong signal to buy, NMDC seems doing so whith positive close on last 2 days.
However seeing at RSI near 70 can push stock to lower levels which I think will be good entry.
Once can look to add 50% of capacity now and wait to see if it comes to 125 level to purchase remaining.
Next immediate target would be 138 and further push can take it to 148.
Keep current stop loss as 123 and after momentum keep it as 200DMA on closing basis.
However seeing at RSI near 70 can push stock to lower levels which I think will be good entry.
Once can look to add 50% of capacity now and wait to see if it comes to 125 level to purchase remaining.
Next immediate target would be 138 and further push can take it to 148.
Keep current stop loss as 123 and after momentum keep it as 200DMA on closing basis.
Trade closed: target reached
Target achieved on 2nd Jan 2018
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