vedl with lot of news flow in the counter , despite having it i see the stock as undervalued upto 78 zones , technically weak below it now and from here can try to give a quick upmove for 130 /144 zone
Levels are mentioned in the chart.
Alternatively one may consider the following F&O strategy
Consider selling NMDC 30 April expiry Put option
Strike Price: 80
Lot size: 6000
Recommended selling range: 4.5 - 5 (Closing price 5.2)
Time frame: 30th April 2020
Max profit potential Rs 27000 - Rs 30000 till 30th April 2020
The strategy has inbuilt loss...
NMDC may move and hit the targets. Indicators are showing bullish signals. It has the strength to hit the final target. Monthly MACD crossover also happen upcoming months. Immediate stoploss below 97 on closing basis. Note: Long term stoploss given in the chart.
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.