tusharvispute1

TRENDLINE BREAKOUT

Long
NSE:NMDC   NMDC LTD
NMDC has given a horizontal line breakout. The breakout is supported by a rise in volume. RSI is moving in sync with the price and has given a falling trendline breakout. MACD has formed a bullish crossover and is sustaining above its zero line. The price is walking its upper Bollinger band. All these observations are seen in the daily time frame. Price can rise up to 126 and above that, it can rally up to 129 - 132. It can be bought at 121.50. The stop-loss will be below 118 on a daily close basis. Holding duration 3 - 4 days. The trade should be ignored if prices open with a gap up or down before initiating the trade.

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