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Nalco

#NationalAluminium ascending wedge breaking outside resistance#NationalAluminium ascending wedge breaking outside resistance The stock seems to be breaking out of a previous resistance zone within an ascending broadening wedge patterns where swing trading opportunities till upside of channel now.Wide range bullish breakout candle and momentum and trend give Indication that price could be heading ahead. Stop loss below alert candle and entry above it targeting channel top could be good be good.
NSE:NATIONALUMLong
by seekedgetrade
NATIONAL ALUMINIUM COMPANY ON A CRUCIAL SUPPORTTHE NATIONAL ALUMINIUM COMPANY has been on a high power bull run,the stock had been making new 52 week highs with the soaring prices of aluminium ores ,the stock has doubled from calender year low ,which clearly shows how the financials have been driven, the bull run has just started in the metal sector with rising demands across all sectors, the balance sheets of these companies are at their lifetime best performances and i am personally expecting them to show growth for the coming few years and here we are discussing about the aluminium giant NALCO, coming to the technicals now the stock has been trading a bullish channel for the past few months , we had a news based BULLTRAP in the month of october ,keeping that aside now the metal sector is facing heat ,most of the steel stocks are looking bearish and nalco is trading at the bottom edge of the channel,the stock has been consolidating for a couple of days and has given a breakout from the small range,the candle is a doji so its better to wait for a bit more confirmation for any long position ,using the volume profile from previous swing low to the high made in the bulltrap its clearly seen that the high accumulation/distribution is taking place around the range of 87-92 a breakout on the either side would drive the momentum,the monentum on down side would be quicker than the upside as the markets are highly volatile these days,90PE is adding OI for the past few days even if the stock closes in red ,this is a bullish sign but we must wait for a strong confirmation from the stock as well as the sector which is the CNXMETAL INDEX .dont miss the opportunity as the stock is placed at a high risk reward zone, upside targets are be 100/105 and the downside is more steep ,targets can be 80/75. once the trade moves in your direction donot take losses, place your SL at costs, never make losses on trades which are in green .
NSE:NATIONALUM
by gunechadeep
Simple Positional Long Trade Setup | NALCO | SHORT-MID TERMNSE:NATIONALUM I am posting as one of the follower requested for it. This is positional trade setup only. Observations: 1) On Daily time frame, we can see that it faced resistance from 21DMA but closed above 10DMA. It is now in between 21DMA and 10DMA. 21DMA is immediate resistance and 10DMA is immediate support. We can see that the critical level is 100. Please refer below chart : 1 day Time Frame. --------------------------------------------------- Simple Positional Trade Setup. Please refer below chart : 1 hr Time Frame. --------------------------------------------------- On 1 hr time frame, If it sustain above 104 level then one can take buy trade. SL will be 98 with targets of 112.50 and 116 level. One can also take positional buy trade from CMP with SL of 98 with targets of 108,112.50 and 116 level. If it sustain take support from 100 or 96 level then one can take positional buy trade with targets of 108,112.50 and 116 level. For mid term positional trade keep SL at 94 level. Below 94 level it will be bearish. Rest all details are mentioned on the chart. ------------------------------------- Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with SL as per your risk capacity. This is just my personal view. It is not a trade recommendation. Better to consult with financial advisor before making any investment.
NSE:NATIONALUMLong
by Trading_hawk
Simple Trade Setup | NATIONALUM | 30-08-2021NSE:NATIONALUM Observations: 1) On Daily time frame it is already taken good support and reversal from 100DMA and now it is just closed below 21DMA. Please refer below chart : Daily time frame. 2) On 1hr time frame it is just below next resistance zone. And it formed kind of inverse head and shoulder pattern. Please refer below chart: 1 hour time frame. ------------------------------------- Trade Setup for Date 30-08-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:NATIONALUM
by Trading_hawk
#nationalaluminium #nalco bullish momentum reverse divergence #nationalaluminium #nalco 4 bar bullish momentum reverse divergence seen on weekly charts that could pull up to 98 levels again. Daily momentum has taken support and bounced up.it could also turn out as a resistance acting as support and change in polarity bounce up move is also a possibility. Long entry on confirmation if next week candle staying above this weeks low as stop loss could work out low risk trade. metal sector is also having enough momentum.
NSE:NATIONALUMLong
by seekedgetrade
NALCO- Heads i Win, Tails i Loose Small TradeNational Aluminium Company Limited (NALCO) is a Navratna CPSE under the Ministry of Mines. }It was established on 7th January 1981, integrated and diversified operations in mining, metal, and power. }The Company registered a record net profit of Rs 1732 crore in 2018-19, which is the highest in a decade, and sales turnover of Rs 11386 crore in the financial year 2018-19, which is the highest since inception. } Presently, the Government of India holds 51.5%. }One of largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. }The Company has a 68.25 lakh TPA Bauxite Mine & 21.00 lakh TPA (normative capacity) Alumina Refinery located at Damanjodi in Koraput district of Odisha, and 4.60 lakh TPA Aluminium Smelter & 1200MW Captive Power Plant located at Angul, Odisha. }NALCO has bulk shipment facilities at Vizag port for the export of Alumina/Aluminium and import of caustic soda and also utilizes the facilities at Kolkata and Paradeep ports. NALCO has Created Upflag Pattern on Daily Charts, Giving us a Good Risk/Reward Setup
NSE:NATIONALUMLong
by StrategicAlpha