Stock recommendation:
BUY NMDC (133.5) | Target: Rs 142 | Stop-loss: Rs 127
The stock price has surpassed the previous top resistance on the daily chart after forming rounding-bottom formation on the daily chart. Metal and PSU sector has been outperforming and this stock belongs to both the sector. The stock has been trading above all important moving average parameters. Indicators and oscillators like RSI, MACD and DMI have turned bullish on short term charts.
=========================
Disclaimer: Vinay Rajani is Senior Technical and Derivative Research Analyst at HDFC Securities. The analyst doesn't have any holding in the stock. Views are personal.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in