NALCO 2017- Buy in Arithmetic Zone 32-35 in August Fair 2017
509 views
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.
Observations
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.
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.
Observations
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:
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
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.
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
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Abhishek H. Singh, CMT
Growth Director - India
http://in.tradingview.com
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.
Reply
@nitiny2k, We cannot jump here so likely we will wait for the pullback & later decide-which way
Reply
@AbhishekHSinghCMT, Dear Sir - Please share your updated view as the script has moved above 73.
Reply
Last Price@66.55
Look at the last week candle -that was a huge red candle.