NALCO-the gap up show!EXTREME BEARISH HARMONIC IMPULSE in formation
The exceptional item break up of 801.46cr ....
In the matter of disputed water charges between the Company and the Government of Odisha, both the parties vide minutes of meeting dated 8th
Dec'2017 have agreed for Rs. 58.18 crore as one time settlement towards arrear dues upto 31st Oct'2017 based on the principles outlined in the
Department of Water Resources (DoWR} Resolution no. 10066 dated 27th Apr'2017. Accordingly the excess liability for an amount of Rs. 785.70 crore provided upto 31st Mar'2017 is written back and taken to Income as exceptional item. The current year expenditure in this regard is also reduced by Rs.158.90 cr
two short term targets to be kept in mind, the lower top out level is the most likely and conservative target...
If by any chance the 200dma resistance is broken upwards, the higher top out level would be a target to book profits...
Disclaimer.. not an investing/trading recommendation... not invested in this company at present...
