Please refer my earlier post on introduction on NMDC.
Monthly trend [T1]: DOWN
Weekly trend [T2]: DOWN
Weekly supply zone [R1]: 102.2 ~ 105.1
Daily trend: not clear
Daily supply zone [R2]: 102.90 ~ 105.1 - inside R1
Double bottom formation in progress in range 88 ~ 90. However, for trend reversal 105.1 must be crossed decisively.
For short-term, NMDC is in the range of 90 ~ 105. Traders can enter around 90 and exit around 105. A strictly stop-loss must be maintained at 87/85.
For long-term/investment view, NMDC can be accumulated in the range of 90 to 100. But the weekly & daily supply zones, R1 & R2, must be taken out with good volume for the further up move.
Let us see how NMDC pans out in coming weeks and keep a close watch for updates.
Disclaimer: The views presented on desibullz are my personal views. The analysis is my study of technical analysis and for educational purpose only. The views and analysis are not trading tips and should not be used for trading. The financial gain/loss arising by using the views/analysis is the personal responsibility of stock trader/investor.