NMDC – Rounding Bottom Breakout | Retest Done 🔁
NMDC Limited
📌 Trade / Swing Plan
• CMP: ₹83
• SL: ₹58 (recent swing low)
• Targets: ₹97 → ₹114 → ₹146
📍 Structure & Logic
• Rounding bottom formed; breakout in April
• Retest of breakout level completed
• Stock has gone through long, slow consolidation (energy build-up)
• With metal rally, price is again turning up
• Confirmation above ₹96 (also near 61.8% level & recent high)
• Pattern math: Depth ~₹64, Breakout ~₹81 → 81 + 64 ≈ ₹145 (near ATH)
• Post-correction, small rounding bottom forming → adds conviction
🧠 Approach:
This is a slow but potential big-trend setup. Patience + correct position sizing is critical to ride the move.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer: Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
NMDC Limited
📌 Trade / Swing Plan
• CMP: ₹83
• SL: ₹58 (recent swing low)
• Targets: ₹97 → ₹114 → ₹146
📍 Structure & Logic
• Rounding bottom formed; breakout in April
• Retest of breakout level completed
• Stock has gone through long, slow consolidation (energy build-up)
• With metal rally, price is again turning up
• Confirmation above ₹96 (also near 61.8% level & recent high)
• Pattern math: Depth ~₹64, Breakout ~₹81 → 81 + 64 ≈ ₹145 (near ATH)
• Post-correction, small rounding bottom forming → adds conviction
🧠 Approach:
This is a slow but potential big-trend setup. Patience + correct position sizing is critical to ride the move.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer: Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.