NATIONALUM - Reversal on Cards? but 190 to be tested first?

Jan 5

My detailed analysis on the script on weekly TF can be found here.

For now, looks like the first leg of correction will end at around 190 zones.. Reasons are explained well in the chart; but here is the brief

Harmonic pattern target
200 DEMA
Trendline

The probable future path is depicted below.. remember, the B wave could very well go past 263 too.. for now, lets see where the A wave terminates



I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.

Jan 13

Trade active

190 is done now.. harmonic pattern target achieved.. but, the price broke the trendline and trading well below 200 DEMA.. Hence, longs are not advisable until we see good price action for bullish view.