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Price and trend forecast of NMDC for Tomorrow, Weekly, Monthly

NMDC Limited

Symbol: NSE:NMDC

ISIN: INE584A01023

238.90

As on 2024-04-12

103.75 (52W Low) 252.40 (52W High)

NMDC's Today's Performance

NMDC Limited started the day by opening at 240.70 today 2024-04-12. Its shares reached a high of 243.30 and dipped to a low of 238.10 in intraday. When the markets closed, NMDC’s stock price settled at ₹238.90 per share. Also check out its key support and resistance levels.

NMDC Buy/Sell Targets

Tomorrow, sell NMDC when its price reaches ₹ 238.90 with a stop-loss order at ₹ 243.37. You can set the target price as ₹ 234.43 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of NMDC for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for NMDC

Resistance Levels Value in ₹
Tomorrow Resistance 1 242
Tomorrow Resistance 2 245
Tomorrow Resistance 3 247

Important Supports for NMDC

Support Levels Value in ₹
Tomorrow Support 1 237
Tomorrow Support 2 235
Tomorrow Support 3 232
Based on where the stock opens tomorrow, if NMDC opens on a positive note, our first target will be ₹242. If Target 1 is achieved, we will aim for Target 2 which is ₹245.

But if NMDC falls below the average value of ₹240.10, you can enter a sell side position with target number 1 - ₹237 and second target - ₹235 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of NMDC

Looking at NMDC, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, NMDC has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for NMDC is moderate bullish.

Tomorrow's Volume based share price Forecast for NMDC

NMDC's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 12%.

Reversal detection for NMDC

Predicted trend chart of NMDC tomorrow for price forecast
NMDC may trend may continue to be bearish since stock is making lower low and we can get target of ₹238 in morning tomorrow
Target 1 tomorrow242
Target 2 tomorrow243
Target 3 tomorrow245
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with NMDC's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if NMDC opens on a positive note, our first target will be ₹242.10. If Target 1 is achieved, we will aim for Target 2 which is ₹245.30.

But if NMDC falls below the average value of ₹240.10, you can enter a sell side position with target number 1 - ₹236.90 and second target - ₹234.90

NMDC's Weekly Targets
1st Up Target 249.85
2nd Up Target 260.80
1st Down Target 222.55
2nd Down Target 206.20

As the week for NMDC ended on bullish sentiments, we can expect further continuation of this sentiment. NMDC's initial target will be 249.85 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 222.55 in the upcoming week.

Weekly OHLC Values
Open 219.65
High 244.45
Low 217.15
Close 238.90

Week for NMDC started with an open price of 219.65, and the close was at 238.90. NMDC reached the highest of 244.45 and dipped lowest up to 217.15 last week. This indicates a bullish sentiment for the week.

NMDC full month swing targets
Monthly Up Target 1 277.15
Monthly Up Target 2 288.10
Monthly Down Target 1 195.25
Monthly Down Target 2 151.60

Targets of ₹277.15 can be expected to be reached in the coming month. Once NMDC achieved this target, we can aim for the next upside target of ₹288.10.

NMDC if fails to hold upside, down targets of ₹195.25 and ₹151.60 can be achieved by end of this month.

For complete three weeks if NMDC is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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Summary

NMDC is expected to reach the target of 242.10 in tomorrow's trading session.

After achieving the initial target in NMDC, we will aim for higher targets of 245.30 tomorrow.

However, if NMDC starts to trade below ₹240.10, then we will shift our focus to the sell side and aim for down targets of 236.90 and 234.90.