Simple Positional Long Trade Setup | NALCO | SHORT-MID TERM
NATIONALUM
I am posting as one of the follower requested for it.
This is positional trade setup only.
Observations:
1) On Daily time frame, we can see that it faced resistance from 21DMA but closed above 10DMA. It is now in between 21DMA and 10DMA.
21DMA is immediate resistance and 10DMA is immediate support.
We can see that the critical level is 100.
Please refer below chart : 1 day Time Frame.
Simple Positional Trade Setup.
Please refer below chart : 1 hr Time Frame.
On 1 hr time frame,
- If it sustain above 104 level then one can take buy trade. SL will be 98 with targets of 112.50 and 116 level.
- One can also take positional buy trade from CMP with SL of 98 with targets of 108,112.50 and 116 level.
- If it sustain take support from 100 or 96 level then one can take positional buy trade with targets of 108,112.50 and 116 level. For mid term positional trade keep SL at 94 level.
- Below 94 level it will be bearish. Rest all details are mentioned on the chart.
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Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with SL as per your risk capacity. This is just my personal view. It is not a trade recommendation. Better to consult with financial advisor before making any investment.
