|Sell Range||116 – 113|
|Target||105 – 100|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||8 – 12%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|113.55||SELL||116 – 113||105 – 100||118||15 – 20 Trading Sessions||8 – 12%|
# CMP on July 22, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 109.
^ The returns are calculated based on CMP#
NMDC Limited explores and produces iron ore in India. The company also explores gold, coal, iron ore, copper, sponge iron, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands etc. The Indian government owns a majority share of the company.
|Sectoral Index||Nifty Metal|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock price has been trading in sideways range in the last 1 year and was showing a lack of strength to breakout upper or lower boundaries during this period.
- Presently, the stock price has placed near the Upper bound of a sideways range and based on historical price pattern we are expecting the price to fall off from here.
TECHNICAL OBSERVATIONS (DAILY)
- RSI have formed negative divergence on the daily chart, a negative divergence happens when the price of a security is in an uptrend and an indicator like relative strength index (RSI)—heads downwards, which indicates loss of buying momentum and a possible rise of the trend reversal.