I shall thank all my followers & from the bottom of my heart, wishing a happy & prosperous year2017 to you & your near ones.
In our childhood, all of us, use to get excited when our parents took us for a visit to a nearby fair- why- because we get so many good things at the cheapest & best rate.
What is the connection of Fair & Nalco
In the last couple of years NALCO comes out with a fair every August Month- So, won't you be interested to buy something for yourself in the upcoming Aug2017 Fair.
Since 2008 highs of 141- Nalco has travelled down in irregular (W)-(X)-(Y) making a low@24 in Aug2013
Pushed up to 69 Highs in Sep2014 & had a fall, making a higher low@28 in Aug2015 compared to low in Aug2013.
From Aug2015 lows@28 -Again pushed & made a new high@73 in current month of Dec2016.
Look at the Arithmetic Progression at recent lows & highs-24+4 =28 -- 69+4 =73-- Next in the series-- 28+4 =? (Range of 32-35)
One should look for the arithmetic progression zone of 32-35 as the buying opportunity zone in this stock or going above 73 highs which got rejected recently by sellers.
Fall from 79 to 66 looks Impulsive gives hope that in 6-8 months we could see the possible interested zone for Nalco
Looks choppy but an impulsive fall from 80's to 66 -let us see it breaks 63 lows in next couple of months.
Kindly consider your financial advisor for all investment decisions.
Last Price @ 30.65
Another stock for portfolio - Nalco -------------reached the desired zone late by 2 years
13th March 2020 - Snapshot
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw