GMDC - Chart of The Week, Testing Trendline, Change of PolarityNSE:GMDCLTD has a beautiful structure on the Weekly Timeframe to qualify for my Chart of the Week idea. It saw Decent Above-Average Volumes and confirmed a Change of Polarity and is Now Testing the Falling Trendline with RSI and MACD trending upwards.
About:
NSE:GMDCLTD is primarily engaged in 2 sectors, i.e. mining and power. Its projects include Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind and Solar.
Trade Setup:
It could be a good Swing Trade if it breaks the trendline and the Change of Polarity is Still Intact.
If the Trade gets activated after breaking the trendline, then keep this Week's Low as the Stop Loss or Even Take RSI and MACD as a Stop Loss Signal.
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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
