Hi Swing Traders,
NMDC looks good for a short after completing pull back. Check the charts for more info
I hope you will benefit from this knowledge
-MetaVish
BUY ENTRY POSSIBLE BASED ON
RESISTANCE BREAKOUT
SUPPORT OF VOLUME SEEN
FOR STRENGTH
double rounding pattern seen too
R:R CAN BE DECIDED ON PERSONAL BASIS
disclaimer - for study purpose only.
NMDC is testing a trend-line that it has tested multiple times historically. If it breaks this, there could be a huge run upwards.
Watch out for decisive break.
Go long. Like and follow :)
NSE:NMDC
NMDC has confluence of 3 breakouts which can help this stock to move tomorrow.
1. Cup & Handle
2. Resistance zone at 99-100 (respected multiple times)
3. Psychological level of 100.
It will be good buy 101 tomorrow.
TGT : 109 +++
Watch Our other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging...
Channel since March bottom at 61.
RSI was overbought with last week's rise.
At 92 levels lot of froth would be out a great great opportunity to get in.
NMDC is near its major supply zone on 96 rs levels. It has correcred thrice from these levels.
Price has been fluctuating between 80-90 levels for many days & had made a cup like structure. Handle formation has been started.
If it brokes the resistance of 96 rs with good enough volume, go long.
buy: above 96
Target: 105
SL 85
NMDC is trading near its Previous Swing High. There was a long consolidation for one month. Breakout from this level may bring new highs. Buying only should be done once this level will be broken
![NMDC: NMDC REVERSAL - VSA + Volume Profile [Swing Trade]](https://s3.tradingview.com/w/wGpOTbnm_mid.png "NMDC REVERSAL - VSA + Volume Profile [Swing Trade]")
