NMDC Steel fades after Q2 swing to profit

NMDC Steel rose over 4% in early trade on 13 Nov 2026 after Q2 results, then closed 0.6% lower. Support is at 36.50 and resistance at 42.50. NMDC Steel Limited [ NSLNISP ] shares rose more than 4% at the open on 13 November 2026 after its Q2 results. The gain faded, and the stock closed 0.6% lower on Friday, ending a four-day winning streak. Profit stood at Rs 61 crore, against a net loss of Rs 114.8 crore a year ago. Revenue rose 11.04% to Rs 3,764.4 crore from Rs 3,389.9 crore. Despite the strong numbers, the stock could not hold its opening gains, which points to selling at higher levels. Resistance is at 42.50 and support is at 36.50. In my view, the trend is bearish as the market sold into the early gain. A move above 42.50 would ease pressure on the setup. A break below 36.50 support would open the way for a deeper decline. Stance: bearish while below 42.50, with 36.50 as key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.