Nalco price action suggest reversal possible
fresh buying is missing around current levels
not able to manage the breakout of previous life high levels
rsi and macd divergence,,
good positional short candidate
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.
NALCO looks too good on weekly and monthly charts.
Building up great volumes on charts.
will wait for confirmation and trade on breakout.
Weekly close above 81 will take it to 100/120/140.
Will keep SL of 73 on weekly basis.
***DO YOUR OWN ANALYSIS BEFORE TAKING ANY TRADE.***
Stock analyzed: NALCO
Just a trade review :) Already analyzed on my page
1:1 Risk reward done in a day, sometimes the market is more kind than other days, 70 to 90% of partial profit can be booked here
(30 % to 10% invested amount should be held with a trailing SL of price bought at
Happy trading and don't forget to follow
National 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...
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...