📈 NMDC – Bullish Trend Reversal with Breakout Setup (For Study Purpose Only)
NMDC has displayed a bullish trend reversal following a prolonged 6-month consolidation between ₹60–68. The stock broke out decisively above this range and has since retested the breakout zone successfully, confirming it as a strong support.
Subsequently, the stock entered a 1-month sideways consolidation between ₹67–73, forming a tight base—typically a sign of strength and potential continuation.
🔍 Technical Highlights:
✅ Breakout Zone: ₹68 (now acting as strong support)
🔁 Retest Completed: Post-breakout pullback respected support
🧱 Current Range: ₹70–73 (tight consolidation near highs)
📊 Volume: Gradual increase near resistance, indicating accumulation
📈 RSI & MACD: RSI climbing steadily; MACD shows bullish crossover
🎯 Trade Setup (for study purpose only):
Watch for strength above: ₹73
Stop-Loss (SL): ₹69
Targets: ₹75 (initial), ₹80–82 (extended)
📌 Note:
This analysis is intended for educational and study purposes only. Always conduct your own due diligence or consult a certified financial advisor before making any investment decisions.
NMDC has displayed a bullish trend reversal following a prolonged 6-month consolidation between ₹60–68. The stock broke out decisively above this range and has since retested the breakout zone successfully, confirming it as a strong support.
Subsequently, the stock entered a 1-month sideways consolidation between ₹67–73, forming a tight base—typically a sign of strength and potential continuation.
🔍 Technical Highlights:
✅ Breakout Zone: ₹68 (now acting as strong support)
🔁 Retest Completed: Post-breakout pullback respected support
🧱 Current Range: ₹70–73 (tight consolidation near highs)
📊 Volume: Gradual increase near resistance, indicating accumulation
📈 RSI & MACD: RSI climbing steadily; MACD shows bullish crossover
🎯 Trade Setup (for study purpose only):
Watch for strength above: ₹73
Stop-Loss (SL): ₹69
Targets: ₹75 (initial), ₹80–82 (extended)
📌 Note:
This analysis is intended for educational and study purposes only. Always conduct your own due diligence or consult a certified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.