Price made double bottom
Trend line connecting the MACD levels of the corresponding bottoms is upward
This creates a classic bullish divergence
Target - 145
SL - 127.50
- Company is debt free.
- Stock is providing a good dividend yield of 10.06%.
- Company has been maintaining a healthy dividend payout of 70.07% NSE:NMDC
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.
the company has floated a tender to sell 26,384 carats of rough diamonds from its panna mines in madhya pradesh
1st Trg-140 Achieved.
2nd Tgr-144 in dis week.
It is been observed that there are some candlesticks pattern which describes the sentiment and movement of buyers and sellers in the market. It is observed that when a Green Bullish Candle with no to little wick in bottom found after a downtrend indicates a buyers come back with full dominance over price action as there will be no lower wick which means no selling...
NMDC has formed a Flag Pattern. It has given a breakout on daily chart with volumes, indicating a continuation of the upward trend.
Target : 132-135
Stop loss: 113.90
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
LONG NMDC @ 114..115 WITH TARGET OF 123...125.......RIGHT NOW NMDC IS IN C CORRECTION WAVE....BULLISH BAT D POINT WILL END C CORRECTION WAVE .....WILL IT BE TREND CONTINUATION (5-3)?
