NMDC

Since last 2 years NMDC has been going down. As observed in the NMDC daily chart below the high of NMDC stock at 185 was made in early 1st week of September 2014. After that the down trend started, went on till end of year 2015. In late January 2016 NMDC Stock  made a low of 76-79.

 

NMDC Stock with KST Indicator

NMDC Stock with KST Indicator

The KST Indicator also seen moving southward towards over sold zone and in November 2014 the KST indicator successfully migrated to oversold zone and remained in oversold zone till April 2016. In early May 2016, the KST Indicator successfully crossed zero-line north ward and migrated to overbought zone.

In month of Febraury 2016 prior to KST migration to overbought area, the prices of NMDC bottomed out in range of 75-79. But again in early June 2016 KST re-dipped downward -south in oversold zone. This meant that bottoming of prices in NMDC stock still continues, despite the fact that prices continued upwards till 100 & above in April 2016.

Finally in July 2016 the KST indicator re-emerged in over bought zone with prices too galloping back to 100.

 

NMDC Daily Chart till 23rd august 2016

NMDC Daily Chart till 23rd august 2016

The volume has started picking since February 2016, which hints at long term investor accumulation in this counter.

Strong & deep pockets are accumulating the stock of NMDC.

*** A good long-term buy for value & quality investor above Rs 105/-

 

AUTHOR - suchita

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