Potential Trade Opportunity in NMDCNMDC presents a potential trade opportunity and the rationale is as follows.
1) Price broke out of the descending trendline with good volumes.
2) Price consolidated for 12 trading sessions near the previous resistance and has given a breakout with good volumes.
We can target for a 4%, 8% and 12% with an initial small risk of 4% (trailing stoploss to be followed later)
THIS IS NOT A CALL, CHART IS SHARED AS A KNOWLEDGE MATERIAL TO BE USED ONLY FOR EDUCATIONAL PURPOSES
NMDC trade ideas
NMDC - LOOKING FOR A NEW LIFENMDC is India State owned mines companies which has done well over a long term period. Looking at long term chart this stock seems to be in consolidation mode for a very long period over 12 years. The stock is getting a new life as it has fundamentally repaid the loans and is in net cash. I would still wait for the stock to cross 140 level and stabilize before we can call it a breakout. Would wait and watch how the stock price reacts and also keep an eye on the iron ore prices.
NMDC nudging ahead...NMDC (National Mineral Development Corporation) Ltd. is a government undertaking and also India’s largest producer of iron ore. It produces more than 35 million tons of iron ore from three merchandised mines in Chhattisgarh and Karnataka.
NMDC CMP is 107.50. Negative aspects of the company is declining annual net profits. Positive aspects of the company are improving cash from operations annual, no debt, FIIs are increasing stake, MFs are increasing stake and zero promoter pledge. Dividend yield of NMDC at CMP is 3.5%.
Entry can be taken after closing above 110. Targets in the stock will be 114.40 and 118.15. Long term target in the stock will be 122.25 and 126.70. Stop loss in the stock should be maintained at closing below 99.
NMDC Stock Analysis | DowntrendNMDC Stock is trading in downtrend making lower highs and lower lows.
The price reached 104 support area and bounced but got rejected by Daily 200MA near 110.
As of now , I expect price to trade in between a range of 104-110.
If daily closes above 110, we can look to buy.
If daily closes below 104, exit your position.
We can also trade the short term range of 104-110 buy buying at 104 and selling at 110.
NMDC Low Risk High Reward IdeaAs per my analysis, best level to take buy entry on NSE:NMDC is 107 with stop loss of 103 (-04 Points Risk). We can get upside target of 109.60 & 118 (+11 Points). This could be low risk and high reward idea.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Big Break Out in NMDChas given breakout above 127 on daily charts, shall be invested.
fibo levels on weekly suggesting targets obove 150. is a good funda stock and slow mover shall invest try not to trade.
Moving averages and RSI suggesting can move fast. but still make it as investing call.
short term targets shall be 135-40.
Dis- charts are for education purpose buy as per your advisors advise.
NMDC - Demand appeared at 100 in Jul'22Context - High volume MarkUp into 100-200 zone after 10 Year long causality in 50-100 zone
Up from Nov'20 to May'21 met supply at 190
Demand appeared at 100 in Jul'22
Plan -
to Purchase Breakout above 145
or, rejection indications near 100
PB 1x
PE 5x
ROCE 36%
Div 11%