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.***
Weekly and daily MACD crossover helps to move further upside upto the given target levls. CCI,Stoch and RSI also favorable to move upside. As per indicators view, expecting to move upside for short term only.
Can buy National Aluminium limited for long-term.
- High dividend payout
- Excellent results from last few quarters
- Aluminium prices are soaring
- technical breakout retest
If anyone wants not to take risk, Can put 60 as SL.
Any views are welcome :)