Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.
Indicators are going to turn positive side for short term. It will break the triangle on coming days based on indicators. After triangle breakout, target will be @123. Most of the time I given my views before breakout by viewing indicators and having confident on that, So safer traders, can initiate trade after breakout(110 on closing basis) and risky traders can...
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...
It has been observed that the price action is trending down technically but on the fundamental side the valuations are improving and looking good. Some of the key valuation indicators are as follows:
1. P/E: 13.3 (Undervalued)
2. Book Value: 74
3. Debt to Equity: 0.01 (almost a Debt free company)
4. Current Ratio: 3.3
5. Net Profit Margins: 30%
6. Return on...
NMDC retraced almost 78% of the 3rd wave and 61.8% of the whole move from 75 to 152. The stock seems to have made a nice reversal near 102 for the beginning of wave 5. As per this Elliot count, 152 levels are quite possible in medium term.
Entries -- either current price or any lower price if and when the opportunity arises.
Targets -- partial profit @ 133,...