NMDC - UP FLAG

27 апр. 2021 г.

NMDC was in a consolidation since 9th April 2021. The consolidation was preceded by an up rally. This formed a price pattern UP-FLAG on a daily chart of this counter. The price gave an upward breakout on a daily chart on 27th April 2021 and closed at Rs.146.45. I anticipate the price target of Rs. 163 and suggest the stop loss at Rs. 144 to be followed for the four daily candles starting from 28th April 2021. Thereafter, the profit booking/ exit deacon should be based on a downward crossover of 26 EMA by 5 EMA.
NOTE: This is an attempt to predict future price movements. Investment decision based on this idea, if any, shall be solely at the risk of the investor.