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,...
in weekly time frame, morning star is formed at the horizontal support zone which coincides with .618 retracement of prior downtrend.
Also in daily time frame there is a breakout from downtrend channel with good volume, It seems trend reversal is done here and price should move from now on.
here sl should be - 102 (below morning star low), 1st tgt - 131...
Looking at downside movement from current levels,NMDC can be used as swing setup if it suits with your trade plan. Again, those tools are used on different timeframe's so skewed :)
Happy Trading !
Price has been in a steady uptrend since it moved above the 200-dma few months ago. The recent bounce off the blue colored 50-dma is a bullish sign. Am bullish on this one and would not be surprised on a rally to the upper red / magenta trend channel.
Price has been making progressing up, in a sequence of higher highs and higher lows in this weekly chart. Outlook looks bullish and a rally to the red line may be a reasonable expectation.
Here is the Point & Figure chart. Am posting an external link as Tradingview does not support log scale Point and Figure chart.
d.pr/za8B
NMDC Broke out of Weekly Cloud. Conservatives wait of minimum 3 weekly closes above the cloud.
Daily chart short term (6-8) weeks buy target zone 130-135.
