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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
Why you should be careful before trading in PRINCEPIPE As many of my followers were asking about PRINCEPIPES, here is my view, Plz read the whole If still, your setups match go for it :) Logic points -- 1) On Monthly charts, It has not given a good retracement 2) On the day chart if you make a Fibonacci retracement from the lowest part till the near term high then u will see a retracement of only 0.2 3) Such retracement either show heavy bullishness for the short term or can be deadly bearish for the long term faking out for the retracement part just like a breakout 4) A good consolidation on the D chart only doesn't mean bullishness, although the chart seems interesting and is consolidating continuously for some days so what to do now? Answer: Either enter now if you are so attracted towards PRINCEPIPES and only wanted to trade in it as per your setup says, But then do make a good and strict SL and also use less capital ( really less ) just in case. OR Wait for some time, let it consolidate for some weeks or days more, and come to FIBONACCI levels retracement of 0.5 or 0.6 in order to get the real bullish momentum in the stock you are looking for. Thank you, AAA
NSE:PRINCEPIPE
by Averoy_Apoorv_Analysis
NIFTY back in trading range! Good opportunities ahead Nifty - Technical Analysis: -Nifty gapped up good today around 11400 and closed at 11378 -Nifty got back in trading range and not move on wither side is possible with a bullish bias Market - Driving Factors: -Gains in index heavyweights HDFC twins, Asian Paints and Axis Bank -Bharti Airtel, ONGC, Tata Steel, HCL Tech and RIL were among the laggards. Of 30 Sensex shares 11 closed in the red. -The broader markets continued to outperform the benchmark indices, with the midcap index rising half a percent and smallcap 1 percent. Nifty - Outlook for Thursday, 20th August: Nifty saw a good gap-up in the morning and sustained above the previous day close.Though it ended higher, the closing was lower than the opening tick so it formed a bearish candle on the daily chart. Traders should remain neutral and look for trends to form before making a decision
NSE:NIFTY
by Algokart
4
Accumalate West Coast Paper Mills on dipsPaper sector is booming due to adversarial move in crude price and long term negative impact of plastic on environment. this was the economical and sentimental change in though of investors, which has caused the price to move in tandem and stronger than nifty. However tenkan kijun and cloud B have become flat and price could be attracted towards it. Also two weeks back was a perfect reversal candle seen however one and half week move from there on has been mild convincing that it was not a bearish reversal.
NSE:WSTCSTPAPR
by ShamoilShabbir