Equity-Earningz

NMDC : RISK/REWARD 5:1

Short
NSE:NMDC   NMDC LTD
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
Trade active
Comment: Expect the #NMDC Donimalai mine case to get resolved in the next 3 months. - Karnataka Mines Secy

Yes Sir, take your time. Not in a hurry!
Comment: NMDC made a low 118.10

Trade closed: stop reached:

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.