Prefer GMDC to NMDC: Mithil Pradhan

In a chat with ET Now, Mithil Pradhan, market analyst, talks about the outlook of NMDC and GMDC.

What is your sense on NMDC?

I do not like NMDC as such. The stock is into a downtrend. As a technical analyst, I would avoid trading this stock. This stock generally curves a little on the downside slowly and steadily. It does not give a large move like we have seen about three months ago. The stock will suddenly move up, like it has moved up today. This upmove can continue a bit from current levels. Having said that, if I have to make a choice in the mining sector, I would look at GMDC, which looks more promising for long positions.