Technical Analysis GMDC (Gujarat Mineral Development Corporation Ltd.)

The stock $GMDCLTD is currently trading at 618.00 showing a minor intraday gain of +0.93%. Looking at the daily chart GMDC has experienced a strong bullish rally from August onwards peaking near the 775 level around mid-April. Following this peak the stock entered a corrective phase forming lower highs and lower lows. Immediate Resistance 620 - 640. The stock is currently fighting to cross a significant multi-month horizontal resistance zone indicated by the dotted line around 618. A clean daily close above 625 is needed to trigger fresh upward momentum. Major Resistance 750 - 775. This is the previous supply zone where the rally stalled. Immediate Support 575 - 590. The stock recently bounced back from the 590 level making it a crucial short-term floor. Strong Demand Zone 525 - 550. This area acted as a strong base during December and February offering robust structural support. For short-term buyers the stock is currently at a critical pivot level near 618 making it ideal to either wait for a decisive daily close above 625 to capture a quick breakout momentum or look for fresh entries on minor dips closer to the 580–590 support range with a strict stop-loss. For existing holders the structural uptrend remains intact despite the recent correction from its 775 peak so it is highly advisable to comfortably maintain your positions as long as the stock holds above the crucial 575 demand zone.