NATIONALUM trade ideas
NATIONAL ALUMINUM DOUBLE BOTTOMAFTER TRIPLE TOP, steep down side was seen.
Now Double bottom is formed and is near upper resistance.
If brakes, steep upside is possible. Else consolidation again.
NALCO LONG !NALCO suggest strong movement with volumes after many days and holding above 30+ levels on daily chart. once can buy for target 40/- in coming days. with stop loss 30/-
NATIONALUM cyclic stock at long term supportStock : NATIONALUM
CMP : 30
Current PE : 21.7
8 Years Average PE : 7.1
Entry Range : 27 - 28
Stop Loss : 23 - 24 ~ 13%
Swing Target : 36 - 37 ~ 30%
Long Term Target : 70 - 75 ~ 170%
Allocation : 5%
DOUBLE TOP NATIONAL ALMUNIAMNSE:NATIONALUM
THE PRICE IN RANGE AND HAS MADE A DOUBLE TOP FOR SMALL TIME THIS COULD COME DOWN AND CHECK THE RANGE
AND AT THE BOTTOM WE CAN GO FOR LONG FOR LONG TERM INVESTMENT
ONLY FOR EDUCATIONAL PURPOSE
NATIONALUM - 15 MINS FAKE OUT IN TRIANGLE PATTERNThis is a fake breakout. Breakout will happen with huge volume, since it is a fake out, there is no such volume.
Thumb rule: Breakouts happens with huge volume. Triangle pattern about to breakdown.
National Aluminum - Shark PatternNational Aluminum Monthly chart has formed Shark Pattern and holding its PRZ from the past 6 months with indecisive candles like spinning candle, hammer, doji, inverted hammer plus these candles are having good volume.
RSI also trying to hold 40 support.
However there is no price action confirmation, its still consolidating near the harmonic support zone.
Start of New Impulse ( The Beginning of New Trend )What i notice is the price have ended in Ending diagonal format and once the lower low was ignored the price
started moving upside on small pulsing move , this is exactly said by R N Elliott , " Pulsing move impulsive " it always starts with slow pulsing and then
once it cross the point of identification the crowd starts participation
Elliott did describe these pulses with identifiable nature and he also informed a clear message when the previous trend is over its over
Now at present i am looking this could pan out as side way correction before it makes its move up , one can look for buy set up as sell would lead unexpected results
One can look for long term prospective on this scrip
National Aluminum Short term view- Bullish 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.
Vijayaraghavn,
Chennai
Long ( double entry) One can look for entry on brake of the 42.25 and suppose if drops further you can look to enter based on entry price indicated
in the chart and look to book near forecast
NALCO, Sideways, short term scalpingInside Bearish last CD leg of of Gartley. Buy @D, 38.6 range, shortterm profits TP of min 42.5, 44.75 Feedback(s) appreciated
