NMDC Ltd

NSE :NMDC   BSE :526371  Sector : Mining & Mineral products

NMDC Ltd gained 3.73% in today’s trade on Monday before Q4 FY21 results announcement. Stock ended day at 184.85 on NSE.

Stock has formed classical “Triangle Pattern” on the daily chart. We may observe triangle pattern breakout if stock sustains above 186 level. Moving averages all are aligned and suggest stock is in uptrend.

Today stock closes above 10EMA which indicated accumulation in stock is over and now stock is ready for the fresh up moves, We recommend fresh entry in the stock above 186. Expected targets are 195 and 213, stop loss should be placed below 171.50.

As on 22-June-2021 company will announce quarterly results it may trade wild and volatile, We suggest traders to keep low quantity or trade with hedge.