It is a very weak chart
trading within 10 pct of all time lows
The china trade war is having impact on international commodity prices and hence this is getting impacted.
The fall from 105 to 75 recently was very sharp and stock needs to make a base
to build any longs from here.
It is a sell on rise or at best avoid for long players
Price action can not be simpler than this guys. It can move sometime in t his box and can break out/down. Most likely break down and if it goes below 75 there is no coming back soon. Near lifetime low.
NMDC Limited is an India-based company engaged in mining of iron ore. The Company's segments include Iron Ore, and Other minerals & services. It is also engaged in the production and sale of diamond, sponge iron and wind power. Its projects under construction include Bailadila Deposit-11/B, Kumaraswamy Iron Ore Project, 1.2 million tons per annum (MTPA) Pellet Plant at Donimalai, 3.0 million tons per annum (MTPA) Integrated Steel Plant in Chhattisgarh, Panthal Magnesite Project, Screening Plant III at Kirandul Complex, Screening Plant II at Donimalai Complex, doubling of Railway Line between Kirandul and Jagdalpur, Steel Plant at Bellary and Rail Link between Dalli-Rajhara-Rowghat-Jagdalpur Railway Line Project. It proposes to diversify into other commodities, such as steel making raw materials (coking coal, manganese ore nickel); fertilizer raw materials (rock phosphate potash), and thermal coal. It also proposes to invest in raw materials, such as tungsten and rare earth minerals.
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NMDC
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