NMDC LTD
- As per previous report published on NMDC stock had formed double bottom formation in daily chart, after closing above its formation around 153.50 , stock made a high around 190. (Click here to see past report published in NMDC).
- Now daily chart indicates stock is moving in a down channel formation in daily chart, so as long as stock trades in between its down formation it will be favored by bears, but once stock closes and stays above 180 then it will favored by bulls for next 1-2 trading days.
- Intraday close watch once stock starts trading above 180, if stays above in day trading then intraday bulls action is expecting in NMDC.
- Suggested Reading - DABUR INDIA is on bulls run , but stock has now entered in Overbought zone.
- As per graph no 2 stock is facing strong 50 days moving average resistance around 180, as long as it holds below it will be favored by bears but once stock closes above bulls will get active and we can see some strength in NMDC.
- If stock closes and stays above 180 then NMDC will find next strong resistance around 187, as shown above in graph no3.
- Click here to see all the free trading reports (tips) published by us on NMDC.
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