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Investors with a contrarian view can buy the stock of NMDC at current levels. The stock jumped 5.5 per cent accompanied by above average volume on Wednesday, taking support from a key psychological support at ₹100.
The near-term outlook is bullish. The stock has the potential to trend upwards in the ensuing trading session and reach the price targets of ₹109.5 and ₹111.5. Traders can buy the stock with a deep stop-loss at ₹101.5.
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