NMDC SteelFaded nearly half of the move within 3 days!
However, the volumes are relatively lower as compared to the initial buying volumes.
Still seeing this as a pullback with the original SL intact.
The Green zone seems like a potential area for a bounce.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
NMDC
NMDC Long 3 reasons for a positive outlook.
1- NMDC is trying to bounce back from the Fibbo 50% level.
2- Price has given the breakout of the falling trend line and trading above the breakout level.
3- MACD has turned positive after positive diversion.
It looks suitable short term trading with favorable RR ratio.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
NMDC - Clear BO - Possible targetsNSE: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.