NMDC trade ideas
NMDC : RISK/REWARD 5:1NMDC trading at 129 which is a Fibonacci retracement 0.618% of previous major swing from 162.70 to 74.80.
It's also trading at the upper range of an upward channel which could possibly act as a resistance along with 0.618% retracement.
Short at 128.95
Stop 131.65
Target 115
RISK/REWARD 5:1
Fibbonacci retracement 0.618%
Upper trendline as resistance
POSSIBLE EVENING STAR FORMATION IN NMDCPOSSIBLE EVENING STAR FORMATION IN NMDC. SHORT IF GAP DOWN OPEN. VIEW NEGATED IF EVENING STAR HIGH BREACHED.
NMDC: Short term buy. Target 160NMDC braked out of one year consolidation phase.Actually last two days movement is very swift. The same may continue for some more days. But above ₹125.00. If retests the trend line add more. 3 to 6 months target ₹160. After correction of ₹20 to 30 next target ₹180.
NMDC LOOKS BEARISHNMDC looks bearish. On 4 hour charts it form INVERTED HAMMER candlestick pattern at daily SUPPLY ZONE. And also there is bearish divergence on RSI.
So in coming sessions it may fell to 113 & 110 levels.
Buy above the supply zoneHighlighted area is acting as a resistance, Buy once the stock closes above the zone with a good volume.
NMDC NMDC - Still a sell @ 112 - SL 114 , for a target of 105 - Positional
* Request Own Analysis Before taking position
NMDC Sort& mid term viewNMDC may move and hit the targets. Indicators are showing bullish signals. It has the strength to hit the final target. Monthly MACD crossover also happen upcoming months. Immediate stoploss below 97 on closing basis. Note: Long term stoploss given in the chart.
