Stock Picks

NMDC - Trade Setup

NMDC - Daily Chart
If you look at the daily chart of NMDC, the price can be seen falling from 185+ levels to 130. Now the stock seems to have formed a double bottom and look set for a rally. 141 zone is an important price action zone and the stock has broken above this resistance and sustained it. Positional traders can add near 141 levels with a stoploss of 138 and target of 147-151+ levels. This gives a good risk reward ratio of 2x and one can trail the stoploss for even higher targets.

To learn how to find and trade such setups, checkout our Technical Analysis course

Note: This post is not a BUY/SELL recommendation. It is solely for educational purposes. Any trades taken based on the above view must be at the reader's own judgement and discretion.
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