National Alumimum : Showing Bullish Momentum.
Price Action:
1. Trend Channel:The price is moving within an ascending channel, with multiple touches on both the upper and lower trendlines, indicating the price respects these levels.
2. Bullish Divergence:** A bullish divergence is visible as the price forms lower lows while the RSI forms higher lows. This suggests a potential reversal or upward momentum.
3. Current Price:The price is currently at ₹181.98, bouncing off a lower support level with a strong move upward of 5.09% on the day.
Volume Analysis:
Volume Spikes:** Noticeable spikes in volume indicate significant buying interest, particularly near the support level of the channel, which reinforces the potential for a reversal.
RSI Analysis:
Bullish Divergence: As highlighted, the RSI is showing a bullish divergence, where the RSI formed higher lows while the price formed lower lows, indicating waning selling pressure and a likely reversal.
Current RSI Level The RSI has crossed above 50, indicating strengthening bullish momentum.
Outlook:
Bullish: Given the bullish divergence, upward price movement, and strengthening RSI, the stock may continue moving upward, potentially targeting the upper boundary of the ascending channel.
Key Levels: The next resistance could be near the recent high around ₹200, while support remains at the lower boundary of the channel.
Conclusion:
This chart suggests a bullish outlook in the short to medium term, supported by a breakout from the bullish divergence, rising RSI, and positive price action within the ascending channel.
1. Trend Channel:The price is moving within an ascending channel, with multiple touches on both the upper and lower trendlines, indicating the price respects these levels.
2. Bullish Divergence:** A bullish divergence is visible as the price forms lower lows while the RSI forms higher lows. This suggests a potential reversal or upward momentum.
3. Current Price:The price is currently at ₹181.98, bouncing off a lower support level with a strong move upward of 5.09% on the day.
Volume Analysis:
Volume Spikes:** Noticeable spikes in volume indicate significant buying interest, particularly near the support level of the channel, which reinforces the potential for a reversal.
RSI Analysis:
Bullish Divergence: As highlighted, the RSI is showing a bullish divergence, where the RSI formed higher lows while the price formed lower lows, indicating waning selling pressure and a likely reversal.
Current RSI Level The RSI has crossed above 50, indicating strengthening bullish momentum.
Outlook:
Bullish: Given the bullish divergence, upward price movement, and strengthening RSI, the stock may continue moving upward, potentially targeting the upper boundary of the ascending channel.
Key Levels: The next resistance could be near the recent high around ₹200, while support remains at the lower boundary of the channel.
Conclusion:
This chart suggests a bullish outlook in the short to medium term, supported by a breakout from the bullish divergence, rising RSI, and positive price action within the ascending channel.
Note
168 to 235. Good Run and turned from the bottom of the channel toward the upper channel band as per the expectation. 
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