Fundamental Understanding: Higher commodity prices command a greater profitability to the miners.
GMDCLTD
rose by 150% in the last 4 months 75 trading sessions for the same reason.
NMDC
has a ROCE of 29.6 % and ROE 21.8 % and is almost debt-free (Debt to Reserves is quite low).
The chart forms a perfect head and shoulders pattern on daily timeframe. The price has broken out the neck and is now retesting with reasonable (low to say) volumes. FIIs have increased their stake by 30% QoQ and the navratna PSU looks clean to benefit from the rising commodity prices. Expecting a good upmove due to rise in commodity prices over the Jan-March 2022 quarter. Look out!
For FnO trades, one can take a risky trade with 147 daily closing SL and for the target of 189. For Cash trades, keep adding till ATH for new aggressive moves beyond that.
GMDCLTD
rose by 150% in the last 4 months 75 trading sessions for the same reason.
NMDC
has a ROCE of 29.6 % and ROE 21.8 % and is almost debt-free (Debt to Reserves is quite low). The chart forms a perfect head and shoulders pattern on daily timeframe. The price has broken out the neck and is now retesting with reasonable (low to say) volumes. FIIs have increased their stake by 30% QoQ and the navratna PSU looks clean to benefit from the rising commodity prices. Expecting a good upmove due to rise in commodity prices over the Jan-March 2022 quarter. Look out!
For FnO trades, one can take a risky trade with 147 daily closing SL and for the target of 189. For Cash trades, keep adding till ATH for new aggressive moves beyond that.
