Massive Upside Potential if Key Supports Hold
NMDC has formed a large multi-year rounding bottom / cup pattern visible on the monthly timeframe, indicating a strong long-term bullish reversal structure. Price has successfully sustained above major support zones and is now building momentum toward a major breakout.
Current price is trading around ₹76, holding strongly above dynamic trend support and long-term moving averages.
📍 Key Support Zones
| Support | Importance |
|---|---|
| ₹59.50 | Major structural support |
| ₹49.50 | Cup pattern midpoint & long-term demand |
| ₹25.00 / ₹15.77 | Deep macro support (multi-decade lows) |
As long as these support levels hold, the macro bullish structure remains valid.
🎯 Upside Target Levels
| Targets | Outlook |
|---|---|
| ₹87 | Immediate resistance |
| ₹103 | Major breakout zone / neckline |
| ₹125 | First long-term target |
| ₹142 / ₹164 | High value resistance region |
| ₹189 | Multi-year extension |
| ₹255+ | Full pattern measured move potential |
📈 Technical Outlook
-
Breakout above ₹87–₹103 zone could trigger a strong rally
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Price holding above upward trendline & long-term support channel
-
Rounded bottom signals powerful trend reversal
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RSI at 58 on Monthly chart → bullish and room for further upside
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Medium-term consolidation likely before breakout continuation
🧠 My View
As long as ₹59 / ₹49 / ₹25 / ₹15 holds as support,
NMDC has strong potential to move towards
₹87 → ₹103 → ₹125 → ₹142 → ₹164 → ₹189 → ₹255+
Long-term investors may accumulate on dips.
Swing breakout confirmation above ₹87–₹103 zone.
⚠️ Risk Note
Break below ₹49 may lead to extended correction.
Always manage risk based on position sizing.
💬 What’s your view?
Do you expect breakout above ₹103 soon or more consolidation first?
Comment: “Breakout soon” or “Consolidation first” 🔽
🔔 Disclaimer
Educational technical analysis only — Not investment advice.
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