NMDC Limited, formerly National Mineral Development Corporation, is an Indian public sector undertaking involved in the exploration of iron ore, copper, rock, phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal etc. It is India's largest iron ore producer and exporter, producing more than 35 million tonnes of iron ore from three mechanize mines in Chhattisgarh and Karnataka. It also operates the only mechanized diamond mine in the country at Panna in Madhya Pradesh.
MONTHLY TIMEFRAME
NMDC is moving in a channel (MONTHLY TIMEFRAME)
If NMDC closes above 113 till the end of JULY then we can see a big rally even on the monthly chart. I see some good levels coming if the end in above 113.
Even MACD is showing some positive signals I hope it remains the same for the next 14-15 days.
WEEKLY ANALYSIS
WEEKLY TIMEFRAME
Coming on to the weekly analysis, NMDC has breached the important resistance and then I see new levels coming....
130 is R1, 150/175/240 are the next important resistances.
If we breach 130 levels then even the time will be in favor of the stock and then we will be unable to see 80 levels again till April 2024.
All the following levels can be achieved within 8-10 months.
DAILY TIMEFRAME ANALYSIS
Coming on to Daily Timeframe,
We can see NMDC going up in short term even the RSI is above 70 and we can see some more levels coming
130 / 140 /150 /165 these are some important resistance which will be seeing further coming.
Disclaimer:- This is not a buy / sell recommendation. It is just for an educational purpose. Charts are being provided for learning the technicals.
Comments
Post a Comment