I am looking this stock as possible failed rally , because after braking out form multi week range and making higher high , the stock is not able to sustain higher high,
Its my personal views , may not be same with others , but i would like to call it as failed to hold high and ready for down trend
Lets see how it unfolds
Regards
NATIONALUM price action has made a double bottom breakout pattern in weekly chart, at 69 one can accumulate at the 63 to 65 zone for target of 77 and 115 stoploss below 60.
As seen National Aluminium has given a breakout of an important level (68- 71) on the weekly chart with volumes after 5 years.
Conservative traders can wait for a pullback in order to get a more favourable risk reward ratio.
CMP- 79
Exit Levels- 63.50
Expected Levels- 85, 100, 110
S-L-- Sell First & Buy Later
I shall thank all my followers & from the bottom of my heart, wishing a happy & prosperous year2017 to you & your near ones.
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