Head and shoulder formation on NMDC

NMDC formed a head and shoulder pattern on daily chart. Price is about to breakout but please wait for clear breakout with strong close before you enter. When forming the head price was falling heavily but not with much volume. This indicates sellers are not willing to sell at these lower price. Stop loss can be held just below right shoulder with a risk reward of around 1:2.

Hope you like this idea, if you like, please boost the idea or leave a comment below on your thoughts. I'll be glad to hear from you. Otherwise happy trading :-)