Technical Analysis – NMDC – 21st Feb 2010
NMDC (Rs 457.6) – NMDC has also been in the news for its upcoming FPO and proposed change in pricing structure. The stock had been witnessing sharp spikes and equally severe declines over the last two weeks. Immediate supports for the stock are at Rs 440, Rs 427 and Rs 393. Short-term investors should divest their holding on a decline below Rs 440.
Investors with a medium-term perspective can hold the stock as long as it trades above Rs 400. The current decline can halt around Rs 400 that also occurs at 38.2 per cent retracement of the up-move from November 2008 low.
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