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*
NSE:NMDC
#NSE:NMDC formed beautiful ascending triangle,
volumes consolidated and given good rise, sustainability above resistance level may show good momentum.
You can ask your doubts in case any....
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 .
📈 NMDC Ltd. 📉
This Stock broke out from a Resistance zone of 155-160 after testing three times. It was in consolidation since seven months and today that ended on long side So I am biased on long side as todays candle closed is strong green.
On Buy Side I am looking for Targets of 168, 182, 193, 203.
StopLoss should be kept at 146.
It offers 1:3 Risk...
#NMDC
1. Strong weekly closing.
2. Box Break Out done. Rounding Bottom Break Out awaited.
3. Targets can be as high as upto 225+ however, short term target is 195 once stock starts trading above 176.
4. Weekly closing above 195 will increase the momentum.
5. Consult your financial advisor before investing. If you found worth it, Do Like, Share and Comment.
