NALCO 2017- Buy in Arithmetic Zone 32-35 in August Fair 2017

509 6
S-L-- Sell First & Buy Later

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 flat correction (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)

Trading Strategy

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.

Comment: 14:57 Hrs 13th Feb2017

Last Price@66.55

Look at the last week candle -that was a huge red candle.
Comment: 21:53 Hrs 24th feb2017

Last Price@66

Fall from 79 to 66 looks Impulsive gives hope that in 6-8 months we could see the possible interested zone for Nalco
Trade active: 18:21 Hrs 20th April2017

Last Price@68

Looks choppy but an impulsive fall from 80's to 66 -let us see it breaks 63 lows in next couple of months.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Great Analysis. Thanks for considering request. In my opinion - the daily charts are suggesting a very strong uptrend and we may see fresh breakout above recent highs. With the entire commodity complex moving up, it can provide further tail wind. Please do revisit the counter.
@nitiny2k, We cannot jump here so likely we will wait for the pullback & later decide-which way
happy new year sir.
@asif06542, Wish you a happy & prosperous New Year Asif.
nitiny2k AbhishekHSinghCMT
@AbhishekHSinghCMT, Dear Sir - Please share your updated view as the script has moved above 73.
Happy New Year to you and all flowers.
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