Home / Markets / News / Here's why Mehul Kothari expects NMDC, Wipro to gain in the near term

Here's why Mehul Kothari expects NMDC, Wipro to gain in the near term

According to the technical analyst from Anand Rathi, NMDC can rally to Rs 124, while Wipro can surge to Rs 477-odd level.

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Mehul Kothari Mumbai

2 min read Last Updated : Aug 12 2022 | 8:13 AM IST

BUY

NMDC

Buy Near: Rs 116

Target: Rs 124

Stop Loss: Rs 112

The stock NMDC has corrected almost 43 per cent from its top of Rs 175 which was made on April 11, 2022. From June 02 till July 31, the stock has been consolidating near the crucial support zone of Rs 100 - 108.

Recently on the weekly scale the stock confirmed a Bullish Harami candlestick pattern exactly at the mentioned support followed by healthy positive volumes and that could be a sign of early reversal.

In addition to the above discussed technical rationale, the counter has confirmed a breakout from the trading range of

Topics : NMDC Wipro Market technicals Market trends stock market trading stocks technical analysis technical charts Stocks to buy Stock Recommendations

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