NMDC - LOOKING FOR A NEW LIFE
NMDC is India State owned mines companies which has done well over a long term period. Looking at long term chart this stock seems to be in consolidation mode for a very long period over 12 years. The stock is getting a new life as it has fundamentally repaid the loans and is in net cash. I would still wait for the stock to cross 140 level and stabilize before we can call it a breakout. Would wait and watch how the stock price reacts and also keep an eye on the iron ore prices.
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