NMDC Steel share price jumps 6%; what's next as experts see weakness in technical chart | Support, resistance
NMDC Steel moved higher.
· LiveMint Markets
NMDC Steel shares rose more than 6% on Thursday amid a broad rally in Indian equities and improving steel-sector sentiment. HRC prices increased, while the company also appointed Sarita Chauhan as a government director. Analysts cited resistance near ₹42–43 and support around ₹39.
The analysis
NMDC Steel reported ₹42 and ₹39, with movement of 6% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -3.2% on the day at ₹37.66, and has returned -11.7% over three months. It sits 28% below its 52-week high, which means a good deal of bad news was already in the price. The metals & mining sector has moved -9.5% over the same period, so NMDC Steel is running 2.2 points behind its peers.
For NMDC Steel, the question is how much of this is already reflected in the price and how much re-rates the metals & mining peer set alongside it.
Market context
- In focus: NMDC Steel (NSLNISP), in Metals & Mining.
- Over three months: NMDC Steel -11.7% against Metals & Mining -9.5% (2.2 points behind).
- At least 25% below the 52-week high: NMDC Steel (28%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| NMDC SteelNSLNISP · Metals & Mining | ₹37.66 | -3.2% | -8.9% | -11.7% | -28.3% | 0.8× | — |
Metals & Mining
1M -9.3% · 3M -9.5%
NMDC Steel
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
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