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The short-term outlook for NMDC is bullish. The stock has begun the week on a strong note by surging over 4 per cent on Monday. The rise has taken the stock price very well above the 200-Day Moving Average (MA). The 200-Day MA is currently at ₹113 has crossed over the 100-Day MA. This strengthens the bullish case. As such downside in the stock price could be limited if any dip is seen.
NMDC share price can surge to ₹135 over the next one month. Traders can go long now. Accumulate on dips at ₹114. Keep the stop-loss at ₹108. Trail the stop-loss up to ₹120 as soon as the stock moves up to ₹124. Move the stop-loss further up to ₹124 when the price touches ₹128. Exit the long positions at ₹132.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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