Stock gave breakout of its major resistance and retested , now giving bullish sign for long entries.
CMP : 128
TARGET : 134
This is not a buy or sell call, this analysis is shared for educational purpose.
NSE:NMDC - NMDC crossed and closed above around 1 year High.
Also crossed Wedge - and sustained the momentum.
Immediate Next target is 135 & next target is 159.
Clearly closed above the previous Week's High & Monthly High.
Also, stock is trading above all averages and OBV is also raising for some time.
Add to the watch list.
NMDC is about to breakout a long term resistance and a uptrendline.
And a rounding bottom (saucer pattern) also.
Only the volume needs to pick up.
Buy: Above 125, SL: 121, T: 128/131
Sell: Below 121, SL: 124, T: 117/114
NMDC is forming double bottom pattern in 15 min time frame .and in 5 min time frame it is consolidating near the current resistance level
buy above 119
for option trading = one can have stop loss of 0.04 rupees and a target of 1:1
Nmdc has broke out of a cup pattern IMO according to the technical analysis theory the target should be around 156 and moreover it has broken out of a channel on 1d timeframe basis.
*Only for educational Purposes, not a financial advice*
NMDC forms cup with handle in the daily and weekly timeframe. It is likely to breakout soon. If it breakout up side we can expect a rally towards 145-150 price range (Estimated profit 17%) with the stoploss of 119 on closing basis (Daily timeframe).
Gave brake out before
1.Now taking support on old trend line
2.Also there is doji created at trend line
3.RSI also in over sold
4.Vol also good
Sl 98 / Target up to you
Not a financial advice, for study purpose only.
So I was reading about candlestick patterns and came across Morning Star! as I was searching for one in my favorite stocks I found one forming in NMDC technical charts. Now I'm hoping this would be the bottom of the pattern and might become a morning star if the bulls take the charge on monday.
*This is not any kind of investing suggestion, I recommend you to do...
as you can see in image NMDC is near its support zone .
133-137 is very major support .
one can enter into 133-137 .
with strict SL of 127 .
do like my idea if you agree with it and also follow me .
dont panic , correction is healthy for long survival of market .