NMDC
NMDC (Rs 274.3): In our last review of this stock in November 2009, we had indicated that the supports were present at Rs 302 and then Rs 260. We had also given the stop loss for medium-term investors at Rs 290. NMDC has retreated slightly below this level to form the low of Rs 264 in May 25.
Needless to add, that the situation is tricky here since the stock has declined below critical support but the fall has not been sharp yet. Investors with a short-term perspective can exit this stock and consider re-investing on a close above Rs 313. Investors with medium-term perspective can hold as long as the stock trades above Rs 260.
Targets on a decline below Rs 260 are Rs 190 or Rs 140.
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