NATIONALUM trade ideas
Watchout for Resistance breakoutThe stock is coming to test it's resistance zone and looks good positionally above 50 level.
NALCO showing a formation of Head & ShouldersNALCO is forming a head and shoulder pattern in hourly chart. From chart it seems it could not sustain above 47.55 its long term resistance. If it gives a breakdown it may fall to 44 level and then ultimately to its short term support of 41. View negated if it moves past resistance of 47.55.
Disclaimer: - These views are for educational purpose only and not a recommendation.
National Aluminium - TL crossing - @mayurdharodNSE:NATIONALUM trying to break the trendline. Watch for momentum above 38
#NATIONALUM #NALCO close to 13 years breakoutMonthly close above 45 could result in a breakout with first upside target of 64 and next of 98. Monthly vols picking up sharply.
BreakoutWeekly diagonal breakout with high volume trading. Investor can target
Target 1: 50.5
Target 1: 56.7
Long term stratergyReason for long
-Considering commodity cycle for the upcoming year..
- A clean monthly break out ..
- Past history shows it ideally trade between 25 to 100..
One should consider buying Nalco
Nalco Multi Time frame AnalysisNalco is still under selling pressure..
Chart 1 is showing (Day Time Frame) - is showing inverted hammer which is representing huge selling pressure.
Chart 2 and 3 is representing the reversal for downtrend.
Channel pattern breakoutlong term channel pattern breakout is here. Making the buy opportunity
Buy around 37-40 targets around 60.
NALCO ANALYSISNalco is majorly reached resistance zone..
Expected to down trend for upcoming days...
Breakout Imminent after Current Consolidation Phase endsAfter a steep rally, stock has taken a breather and is trading in range-bound fashion, with lower volumes, signalling a low volume pullback. As preceding sentiment was bullish, can expect stock to reach higher levels above 44 - 46 - 50. SL should be kept at 41.
Red Line shows bearish trend over past 2-3 years. Green shows long term support line. Light blue is current trend.
NATIONALUM, Harmonic Pattern & Fib. Ratio (Investors).Two important fibs ratio for Gartley -
XA retracement at 44 at 0.786.
1.618 CD projection at 46.25 .
=> 1.618AB = CD @55 ( investors )
The previous important level at 37 ( The price should not fall below it for long position)
Note: Investors should wait for pullback to enter.
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Elliot Wave - Bottom is out? or new EW-Cycle.
Let's compare Elliot Wave of HINDALCO:
Longer & short TF - TimeCycle, NALCO.
Fundamental & Hindalco of the % move > relative to NALCO.
