NSE:NATIONALUM
trade according to support and resistance.
current candle (inside bar) will play a crucial role at this level, so trade accordingly.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are...
NSE: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....
NSE: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...
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.***
NATIONALUM HAS FORMED A DESCENDING TRIANGLE PATTERN AND A SMALL RETRACEMENT TILL 29/30 CAN'T BE RULED OUT BUT I THINK A STRONG SUPPLY WILL EMERGE NEAR THIS ZONE AS ITS THE TRENDLINE RESISTANCE WHICH IS CONTINUOUSLY BEING RESPECTED AND CAN BE USED TO CREATE A SHORTING OPPORTUNITY AS IT CAN BREAK THE EARLIER LOWS OF 24.5 IN NEAR FUTURE.
