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...
NMDC seems to be a good long at least till the upper trendline. Following that it may make one more low, before the start of a long-term upmove.
Pattern is still bearish. One can start accumulating in the range of 115 -100
Price has been travelling in triangle is all set to breakout with good results and interim dividend