NALCO showing a formation of Head & Shoulders
Updated
NALCO is forming a head and shoulder pattern in hourly chart. From chart it seems it could not sustain above 47.55 its long term resistance. If it gives a breakdown it may fall to 44 level and then ultimately to its short term support of 41. View negated if it moves past resistance of 47.55.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Note
Gave a breakdown today and volume is decent. Trade is active for 1st target of 43-44 and then 2nd target of 41.Note
NALCO has reached its first target today
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