NMDC trading at 129 which is a Fibonacci retracement 0.618% of previous major swing from 162.70 to 74.80.
It's also trading at the upper range of an upward channel which could possibly act as a resistance along with 0.618% retracement.
Short at 128.95
Stop 131.65
Target 115
RISK/REWARD 5:1
Fibbonacci retracement 0.618%
Upper trendline as resistance
It's also trading at the upper range of an upward channel which could possibly act as a resistance along with 0.618% retracement.
Short at 128.95
Stop 131.65
Target 115
RISK/REWARD 5:1
Fibbonacci retracement 0.618%
Upper trendline as resistance
Trade active
Note
Expect the #NMDC Donimalai mine case to get resolved in the next 3 months. - Karnataka Mines SecyYes Sir, take your time. Not in a hurry!
Note
NMDC made a low 118.10Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.