💰 Entry: Buy at CMP (~145)
🛑 Stop loss: 135
🎯 Goals: 160 → 170
Trade justification:
NML is trading near a strong support area after a long correction and is currently testing key downtrend line resistance. The stock has shown signs of stabilization around the 140 area, with buyers constantly defending lower levels.
✅ Strong support around 139-135
✅ Price consolidation near the breakout area
✅ The risk-reward ratio remains favorable at current levels
✅ A breakout of the trend line may lead to a new upward move towards higher resistance levels
Trading plan:
Consider accumulating near the current market price.
Keep a strict stop loss below 135 to manage downside risk.
Partial profit booking can be considered at each target while pursuing the remaining position.
Objectives:
🎯First row: 160
🎯Second row: 170
A decisive breakout and daily close above the falling trend line may strengthen bullish momentum and improve the probability of achieving expected targets.
⚠️ This is a swing trading setup intended for short to medium term traders. Always follow proper risk management and position sizing.
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