NMDC LTD

NSE

NMDC

A good profitable company however currently facing legal challenges. The structure shows that it is ready for a down move.

NMDC could retest its weekly lows before any upward moves. The recent move has been fast and long so there's a high probability that this will see a pull back/ correction. If we get that pullback, the risk reward could be favorable for a shorting opportunity. There is also a possibility that the price will shoot down to retest the weekly lows without a correction...

Price has now come down to its bounce area, and demand from here should take the price to the Gap area.

Had shared this co previously. Finally Iron Ore prices are up and stock behaves on expected lines. Lets see the good times roll now..

Looks to be in the works for a rebound....

Research Purposes

Details given in chart

NMDC long based on Resistance breakout

* Symmetric triangle breakout * Resistance line breakout * Monthly closing price breakout with raising Volumes Trading above all Important moving averages

It looks like NMDC has just completed a 5 legged up move with the Wave 5 being an Ending Diagonal. Currently it looks like the market is moving down in a Zig Zag corrective structure and can see atleast one more leg down. It should be noted that I do not track this instrument and this is my first look at...

green trg red line sl

Break out strong downtrend.................keep hold.

BUY 108 TGT 120.50

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.

NMDC BUY AT 90 STOPLOSS 87 TARGET 99