Stock Analysis - NMDC:
Daily Timeframe:
1. Current price is well below 200 MA - indicates bearish region.
2. Multiple support ar Rs.134
3. Resistance reduce from ATH of Rs.203 thru Rs.180 and Rs.160.
4. After touching 4th support, three consecutive green candles formed with spike in BUY volume, which indicate to go up.
5. But, Rs.148 is the deciding point which we want to watch to confirm breakout or breakdown.
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran
Daily Timeframe:
1. Current price is well below 200 MA - indicates bearish region.
2. Multiple support ar Rs.134
3. Resistance reduce from ATH of Rs.203 thru Rs.180 and Rs.160.
4. After touching 4th support, three consecutive green candles formed with spike in BUY volume, which indicate to go up.
5. But, Rs.148 is the deciding point which we want to watch to confirm breakout or breakdown.
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran