NMDC has immediate hurdle at 151. Weekly close above 151 will see sharp upside rally in it. Upside target looks 220+++ Support and stop loss below 130 on closing basis.
Traders remain cautious in NMDC at lower levels as chances are bright for upside move to test its upside level target again but trade with levels only. Technical indicator RSI (14) is trading at 63.52 indicating upside potential for the stock prices. On Daily chart, NMDC is trading above 21 and 55 days exponential moving average which is at 143 & 138 while MACD and RSI too showing positive diversion which indicate that upper side seems certain.
Recommendation:
Traders can buy NMDC (Cash/Future) above 151 with stop loss below 130 on closing basis and for the initial targets of 170--190 and then to 220+ mark.
