Technical View: NATIONALUM (National Aluminum Co. Ltd.)
Trend: Strong Uptrend
• The stock has been in a strong uptrend since April 2025, forming higher highs and higher lows.
• It is currently trading within an ascending channel, respecting both the upper and lower trendlines.
Price Action
o Current Price: ₹253.90
o Today’s Move: +₹19.16 (+8.16%) — a bullish breakout candle with strong volume confirmation.
o The stock has broken above a short-term resistance near ₹245–₹250, which was tested multiple times earlier.
o Next major resistance: Around ₹260 (upper channel & previous swing high zone).
o Support zones:
• Immediate: ₹235 (EMA 9 & lower channel support)
• Strong: ₹220 (previous breakout zone)
• Major: ₹180 (long-term base support)
Indicators
EMA (9, close)
o Current EMA(9) = ₹227.78
o Price trading well above EMA — confirms short-term bullish momentum.
o EMA is sloping upward, indicating sustained buying pressure.
RSI (14)
o RSI = 73.35 → slightly overbought region.
o Momentum remains strong but may face minor profit-booking near 75–80 zone.
o As long as RSI stays above 60, the bullish trend remains intact.
Volume Analysis
o The recent breakout is accompanied by a volume spike (32.89M vs avg 10.56M) — confirming strong institutional participation.
o The breakout appears valid and sustainable in the short term.
Pattern Observation
• Price movement within the ascending channel indicates a steady bullish trend.
• Today’s candle suggests a breakout attempt above the upper boundary.
• If price sustains above ₹255–₹260, a new momentum rally could begin toward ₹275–₹285 levels.
Targets & Support
Target 1: ₹260
Target 2: ₹275–₹285
Support 1: ₹235
Support 2: ₹220
Stop Loss: ₹230
Disclaimer
This analysis is for educational purposes only and not a buy/sell recommendation. Always do your own research or consult a financial advisor before investing.
Trend: Strong Uptrend
• The stock has been in a strong uptrend since April 2025, forming higher highs and higher lows.
• It is currently trading within an ascending channel, respecting both the upper and lower trendlines.
Price Action
o Current Price: ₹253.90
o Today’s Move: +₹19.16 (+8.16%) — a bullish breakout candle with strong volume confirmation.
o The stock has broken above a short-term resistance near ₹245–₹250, which was tested multiple times earlier.
o Next major resistance: Around ₹260 (upper channel & previous swing high zone).
o Support zones:
• Immediate: ₹235 (EMA 9 & lower channel support)
• Strong: ₹220 (previous breakout zone)
• Major: ₹180 (long-term base support)
Indicators
EMA (9, close)
o Current EMA(9) = ₹227.78
o Price trading well above EMA — confirms short-term bullish momentum.
o EMA is sloping upward, indicating sustained buying pressure.
RSI (14)
o RSI = 73.35 → slightly overbought region.
o Momentum remains strong but may face minor profit-booking near 75–80 zone.
o As long as RSI stays above 60, the bullish trend remains intact.
Volume Analysis
o The recent breakout is accompanied by a volume spike (32.89M vs avg 10.56M) — confirming strong institutional participation.
o The breakout appears valid and sustainable in the short term.
Pattern Observation
• Price movement within the ascending channel indicates a steady bullish trend.
• Today’s candle suggests a breakout attempt above the upper boundary.
• If price sustains above ₹255–₹260, a new momentum rally could begin toward ₹275–₹285 levels.
Targets & Support
Target 1: ₹260
Target 2: ₹275–₹285
Support 1: ₹235
Support 2: ₹220
Stop Loss: ₹230
Disclaimer
This analysis is for educational purposes only and not a buy/sell recommendation. Always do your own research or consult a financial advisor before investing.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.