Wednesday, May 14, 2014

Pattern Of The Month: April 14

NMDC made three clear tradable patterns in recent month. First, it entered in trading range of 136-146 in start of december and took three up and down moves, then breakdown it successfully on 25 Feb. Achieved target of 126 in just 2 trading days.

       It then took support at 125 and bounced back suddenly, while making a double bottom. It breakout from double bottom on 24 March and target of 143 achieved successfully.

      In month of April it entered in a small trading range of 149-153 and till now trading within it. A breakout or breakdown could be very fruitful and should be tradeable.

     All the patterns created within it are very easy to locate and trade, even for immature traders. All traders who followed discipline and wait patiently to hit their target, must have benefited from it.

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