Very good consolidation@ 100 levels, charts suggest something is cooking, now our stoploss is very very very low only 1or 2 ₹ , actually it's jackpots
Target 120 minimum
Stoploss 108 to 110
NMDC has been falling since more than a year and has now shown signs of bullish nature as the entire market sentiment improves.
NMDC has formed a beautiful double bottom which has been confirmed by the gap up today with good volume. The previous red candles has high volume but no price movement which is a good sign and shows lack of selling pressure.
NMDC...
NSE:NMDC viewpoint
the stock has given trendline breakout on weekly time frame
cmp is 113
i am targeting 50% - 60% upside in short term
this analysis is for knowledge sharing and educational purpose.
this post is not a buy or sell recommendation.
NMDC Daily has trendline breakout, double bottom visible on buying zone. 200 ema support on daily candle. Good to buy at 112 for targets of 131 with sl below 103
BUY - NMDC LTD
CMP - Rs. 108
Target - 1: Rs. 136
Target - 2: Rs. 163
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Timeframe - 4-6 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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It looks good for to give break out. Exit if it goes below 106. Only suggesting for short term trading
1:3 risk reward ratio
Target 1 - 110.5
Target 2 - 114.5
Target 3 - 118
Stop loss - 106
3 reasons for a positive outlook.
1- NMDC is trying to bounce back from the Fibbo 50% level.
2- Price has given the breakout of the falling trend line and trading above the breakout level.
3- MACD has turned positive after positive diversion.
It looks suitable short term trading with favorable RR ratio.
Disclaimer - I am not a SEBI-registered technical analyst...
This scrip display an Inv H&S formation on the W charts, can see a target defined in the chart.
However there are barriers that need to be overcome, looking good from a long term perspective.
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 5th June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
