double top watch national aluminium for coming week showing complete weakness after double top. any rises could be sold.
NATIONALUM trade ideas
NATIONALUM - Price and Trend SetupStock has reached strong resistance level of 95 and may correct little from here before all the supply is absorbed. Price levels of 84 and 76 can act as strong support zone. Entry can be made in tune of 25% to 50% of capital in support zone and rest if breakout happens.
NALCO || Multiyear Breakout Potential Multi-bagger stock.
1) 12 years Breakout with Strong Volumes.
2) High volume build-up in recent months.
3) NIFTY METAL Index doing well (Stage 2).
4) Fundamentally quite strong.
5) Almost Debt free.
6) Good Quarterly & Yearly profits.
NATIONAL ALUMINIUM LTD.DATE - AUG 02, 2021
If NALCO gives closing above 96 then it will be a breakout of OCT 2017. let's see what will going to happen.
(WEEKLY CHART FRAME)
Short Term pick up ✌✌✌This scrip is choosen for short Term as it has crossed trendline. So traders keep on your radar to catch the momentum and enjoy the profit. Thanks to all 🙏🙏🙏
NALCO- Monthly BreakoutNALCO trading at all time high. Given monthly breakout of monthly resistance with volumes. This can be a good swing trade with 130 as Target. SL can be 68 on MCB.
NATIONAL ALUMINUM UPTRENDAs per my calculation, stock crossed strong support zone and started uptreand
Breakout on NALCOIts has given a breakout on Monthly timeframe and its looking bullish on weekly aswell. Good for going long in it if you have patience.
Why I Entered In This Trade? NSE: NATIONALUMThis is my short term position in NATIONALUM
Why I took the position?
The fundaments of this company are strong due to that it has moved nicely in few months. When I took the trade it was consolidating and forming Descending Triangle Chart Pattern. I was pretty confirm that after consolidation and breakout this can give a pretty solid up move.
When did I Enter?
I entered before breakout as I was confirm about the up move.
How much Profits I made?
I am up nearly 30% as you can see the chart.
When I will Exit?
Once I get to see rejection on daily timeframe I will exit majority of my position.
Should you Enter Now?
NO, cause it's on All time high and take a pullback. You should buy low sell high.
Conclusion:
This is just for Educational Purpose. Do your own research to before taking any trades. I am also just learning. I am not an Financial Adviser.
Target T1 Reached 4.3 % returns in one dayNSE:NATIONALUM
Target T1 Reached, book your profits or trail ur SL
NALCOJun 12
Pattern is Bearish AB=CD , but here i am showing the beauty of opposite side of pattern.
AB = CD Harmonic Pattern
This pattern can be adopted to buy when prices are low and sell when they are high. But, here i am using it in Bullish view because it's CD leg is about to complete.
Few general points about this pattern are:
1. AB=CD is a reversal pattern that helps you identify when the price is about to change direction.
2. In an uptrend, the first leg (A-B) is formed as the price rises from A to B.
3. At point B, the price changes direction and backtracks to form the B-C leg – ideally a 61.8% or 78.6% retracement of the price increase between points A and B.
4. The price then, should continues its original uptrend, to form C-D leg which should be the same length as the A-B leg.
5. Place your stop loss just below 51 Moving Average.
Draw a new Fibonacci retracement from point B to C of the pattern to find how much it can retrace towards price rise.
National Aluminium near it's support.Intra day only
Short term reversal expected as it is a strong support.
Buy if it crosses the 1st 15 min candle in the opening on 26 July
Sell if it gives a 15 min closing below 82.75
NATIONALUM : Rounding bottomNATIONALUM : Rounding bottom
- Given in April at 60
- CMP 87
- Strong resistance now.
Just personal view
NATIONAL ALUMINIUMIts a multi year breakout. Try to add some on dips at 78 level. It could give a good return in the times to come.
NATIONALUM correctionNATIONALUM has been following the trendline starting Nov'20 pretty well. Currently, I feel it has overextended itself because of its June rally. We can see the intersection of Fibonacci retrenchment (0.236) and the said trendline at around Rs. 75 mark. I feel that NATIONALUM will continue to fall till Aug first week before carrying on.
National Aluminium on verge of Breaking 13 year resistance lineNational Aluminium has given a breakout for the resistance level that has been maintained from 2008 on basis of huge volumes. We can expect the stock to move up if the breakout is followed by a great support. I will wait for the pull back and see if it takes support on the break out trendline.
Disclaimer : This is not a call and I am not SEBI registered / Authorized. This is only my personal analysis.
