🪨 GMDC – Strong Reversal in Play, Watch for Breakout Above ₹440

🧠 Technical Analysis (Weekly Chart) 📌 Chart Structure: The stock has formed a strong “V-shape recovery” from the ₹240–250 zone. This week’s candle shows massive bullish strength, closing near the highs with a ~12% gain. 📏 Resistance Zone: ₹435–440 is a key multi-month resistance zone—tested multiple times in 2023 and 2024, but never broken convincingly. If price breaks above and sustains, the next leg of rally can unfold. 🟢 Support Base: Strong demand zone between ₹300–325, where the price consolidated before the recent breakout attempt. 200-week EMA near ₹223 is acting as long-term base and has not been violated. 📊 Indicators: Price action is well above long-term average: signifies momentum shift from downtrend to accumulation phase. No signs of divergence yet—momentum seems in sync with price. 🔍 Fundamental Snapshot 🛢️ Business Overview: GMDC is a government-backed mining company primarily dealing in lignite and bauxite—both linked to infrastructure & energy. 📈 Tailwinds: Recovery in global commodity prices Surge in domestic infra spending & power needs Strong government CAPEX + Make-in-India tailwinds 💸 Financially Sound: Debt-free status Robust cash reserves High dividend payout consistency