* Volume Expansion - Volumes since the last three months have been huge and continuously expanding * RSI bullish Divergence- NMDC is forming flat bottoms whereas RSI is forming Lower Highs which is contradicting hence we listen to what RSI is doing and this is an early signal of a reversal that can be expected really soon! * At The Golden Fib Zone b/w 0.618 & 0.5- We plot Fibonacci retracement and we see it is currently at a golden zone between 0.618 and 0.5 fib levels. We can take an entry when 0.5 gets broken by bullish candle or above 158 * Bullish Engulfing- At the second flat bottom it formed a bearish candle followed by a big bullish candle which indicates the previous candle was engulfed completely and hence it is a reversal candlestick pattern! Comment your views/queries and thanks for reading! HAPPY TRADING :)
excellent analysis, gud job madam, but should be cautious because of downward triangle
UnknownUnicorn21160479
⋅
@kiranyandigeri12, Thank you! Yes it is in a downtrend but there are multiple confirmations that a bullish reversal can be expected soon like we can see Bullish Engulfing at support, Golden fib zone and Bullish RSI divergence. It's a safe buy above 158 but i accumulated yesterday only on the basis of these early signals but yes I agree with you there is always a risk in buying on reversals 👍
abhaysinghal99
⋅
@themoneypenny, Any chance it will go to 148 within this month expiry..I had purchased around 147 for ce..But if it will go more down I can sell now instead of waiting