ParamjitMahapatro
Long

nmdc looks bullish in medium term.

NSE:NMDC   NMDC LTD
in weekly time frame, morning star is formed at the horizontal support zone which coincides with . 618 retracement of prior downtrend.

Also in daily time frame there is a breakout from downtrend channel with good volume , It seems trend reversal is done here and price should move from now on.

here sl should be - 102 (below morning star low), 1st tgt - 131 (immediate resistance) 2nd tgt - 150 (previous swing high).
Trade active: till now 119.9
Trade active: till now 122.5
Trade active: till now 125.5
Trade active: big move on fri, closed at 132.50, above upper bb, and bb is expanding in daily, sign of bullishness.
Trade active: after making a swing high of 137, it corrected to 117 level, now it reversed from horizontal support, looks bullish now.
Trade active: big candle formed with high volume, price closed above upper bb and BB is expanding. Looks bullish now,
Trade active: price is approaching congestion area, currently it is near to trend line support level,
Trade active: 1st tgt achieved here, follow up chart,

price approaching overhead resistance, post successful breakout road will be clear for second tgt.
Comment: cmp - 137.8, successful breakout from the congestion area, looks bullish, higher tgts can be achieved here.

Comment: in daily, price is sustaining above middle bb and pushing upper bb upwards
Trade closed: target reached: cmp - 150.10, 2nd tgt achieved here, cheers,

it took around 27 week, and gave around 29% return.

in current scenario, it has crossed previous horizontal resistance in weekly, looks bullish, much higher levels can be achieved here,
Comment: monthly chart shows that, next tgts at - 192, then 285,

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