suresh_gundappa
Long

NMDC ...breakout after consolidation

NSE:NMDC   NMDC LTD INR1
54 0 1
NSE:NMDC             . NMDC             India's largest Iron ore producer is going to benefit from firming of Global prices. With the revision of Chinese GDP growth rate by Moody's, I expect commodity prices to hold its reins over next few months.
NMDC             has formed firm base around 90-100 levels and It has consolidated over six months. It is on the verge of breakout from cloud and Momentum is visible both on weekly and daily charts . One can expect 130 levels over next few month. Keep your stop loss around 90 and trade cautiously.
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