NATIONALUM trade ideas
Technical view:NATIONAL CAN GO LOCAL?? :-)looks like weak it has pullback and reversed from a strong support zone for the stock. It can go up to 58
NALCO Formed an inverse head and shoulder pattern in daily chart. Above 73.50 Heading towards 80 Levels
National Aluminium Bounce uptrend TradeEntry at 63.6 on 2 aug with sl at 60.25
TSL updated at 64.9 on 8 aug.
If Stop loss hits, confirmed profit of 1.3 points.
NATIONALUM Bounce Uptrend TradeEntered on 24 Jul 18 on 60.6 with a stop loss at 57.5
TSL update on 30 Jul 18 from 57.5 to 60.25
TSL update on 07 Aug 18 from 60.25 to 64.90
Current Trailing Stop loss = 64.90
In case of hitting stop loss confirmed profit of 4.3 points.
NATIONALUM for Swing TradingTime-frame: Daily
Price broke out of EMA 50 and is in pullback mode.
Pin Bar has been formed and looks like it is taking support on EMA 50.
MACD is also confirming up trend.
Nalco Bullish bat patternOne can initiate long call on National Aluminium
Target 72/80/90
with SL 58
Short NALCO only below 73 for the target of 69.History speaks. As it is already below purple line and out of the channel so time for taking action only below 73
NATIONALUM: CUP Completed - is waiting for Handle?All plotted & Mentioned on Chart.
Can Treat as BUY SELL Setup.
Though I am in favour of Bears.
Disclaimer: Take this information as study/education purpose only.
If Useful Like & Share
For taking trade decision Consult with your Financial Advisor.
NATIONALUM: Waiting for UPMOVEAll mentioned & plotted on Chart.
Read: "K = FIB R 0.834 of AB"
My personal View. If matched, Like & Share
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor
Nalco - Seems to be a short candidate62 level is next support! once that broken I'm seeing NALCO around 54!
Can buy National Aluminium Limited for long-termCan buy National Aluminium limited for long-term.
- High dividend payout
- Excellent results from last few quarters
- Aluminium prices are soaring
- technical breakout retest
If anyone wants not to take risk, Can put 60 as SL.
Any views are welcome :)
NALCO-the gap up show!EXTREME BEARISH HARMONIC IMPULSE in formation
The exceptional item break up of 801.46cr ....
In the matter of disputed water charges between the Company and the Government of Odisha, both the parties vide minutes of meeting dated 8th
Dec'2017 have agreed for Rs. 58.18 crore as one time settlement towards arrear dues upto 31st Oct'2017 based on the principles outlined in the
Department of Water Resources (DoWR} Resolution no. 10066 dated 27th Apr'2017. Accordingly the excess liability for an amount of Rs. 785.70 crore provided upto 31st Mar'2017 is written back and taken to Income as exceptional item. The current year expenditure in this regard is also reduced by Rs.158.90 cr
two short term targets to be kept in mind, the lower top out level is the most likely and conservative target...
If by any chance the 200dma resistance is broken upwards, the higher top out level would be a target to book profits...
Disclaimer.. not an investing/trading recommendation... not invested in this company at present...
Long NalcoWait for it to retrace a little bit.
Long at shown levels for different targets.
Views welcome
