NMDC stock analysis 2014

NMDC stock analysis 2014

NMDC stock short term technical view

NMDC stock on last trading session closed at 170 rupee with loss. On daily chart, stock closed just below it 3 month average which is very bearish sign from short-term view. Daily chart indicators patterns are also bearish suggesting downside for stock in short terms. On downside 158 and 145 are strong support zones and in current scenario target for stock. On upside 170 to 175 is major averages zone and strong supply zone on chart. Reversal happen only if stock gives daily closing above 176. Traders keep bearish view here and expect downside targets in upcoming days.

NMDC stock medium term technical view

NMDC stock on weekly chart is going though correction phase and trading with loss in this week. On chart, 160 rupee is 6-month average support while below it 152 rupee is 12-month average. 145 rupee is 2 years average and long-term support. On upside 180 rupee and 198 rupee are strong resistances. Here investors keep wait and watch view and watch for reversal move on weekly basis for fresh entry. If stock slips below 140-rupee then we may see previous historic lows here. Weekly chart indicators pattern suggesting fresh weakness rally.

NMDC stock long term technical view

From long-term view, nmdc now has major support zone around 130 to 140 rupees. Above it, investors keep long view for upside targets of 192 rupees, which already achieved and above it 250 rupee, which can be expected in next 12 to 24 month period. On downside 85 rupee and below it 30 rupees are historic supports. For long-term investors 130-140 level if comes then it will be fresh buying opportunity. Nmdc will be best investment at appropriate level.

NMDC company description

NMDC Limited (NMDC) is an India-based iron ore producer and exporter. The Company operates in two business segments: iron ore and other minerals and services. The Company is engaged in the exploration of a range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands. As of March 31, 2012, it produced about 30 million tons of iron ore from three fully mechanized mines, which include Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State). As of March 31, 2012, NMDC supplied 269.16 lakh tons of iron ore to domestic industries and had exported 3.85 lakh tons of iron ore. Its sponge Iron production was at 37,260 tons and its diamond production was 18043.44 carats during the year fiscal ended March 31,2012. On December 12, 2011, the Company’s wholly owned subsidiary NMDC Power Ltd was incorporated.

NMDC stock fundamental ratios

Range167.10 – 172.00
52 week92.70 – 196.00
Mkt cap672.22B
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The Author

Pramod Baviskar

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