NMDC LTD.Long
NMDC Consolidating at its Old Resistance zone
Hello Traders,
As per the weekly chart since 2011, NMDC LTD has predominantly traded sideways. It experienced a breakout in October 2023 and has been consistently bullish until last week. Currently, the stock is in a consolidation phase around its robust old resistance zone, particularly at levels ranging from 230 to 245.
A retracement in the stock to the range of 190-205 levels is anticipated, where it could find support and potentially rebound into a bull run. In case it doesn't hold at these levels, there is a robust support zone at 160.
If NMDC stays between 230-245, there's a good chance it could reach its All time high levels in the coming days.
Here is my Analysis NMDC LTD. What are your insights ? Please share your comments below.
If you find merit in this idea, I truly value your support.
All the Best.
As per the weekly chart since 2011, NMDC LTD has predominantly traded sideways. It experienced a breakout in October 2023 and has been consistently bullish until last week. Currently, the stock is in a consolidation phase around its robust old resistance zone, particularly at levels ranging from 230 to 245.
A retracement in the stock to the range of 190-205 levels is anticipated, where it could find support and potentially rebound into a bull run. In case it doesn't hold at these levels, there is a robust support zone at 160.
If NMDC stays between 230-245, there's a good chance it could reach its All time high levels in the coming days.
Here is my Analysis NMDC LTD. What are your insights ? Please share your comments below.
If you find merit in this idea, I truly value your support.
All the Best.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.