Today Nifty Metal sector is down as well as all metal stock down
NATIONALUM sell below 48.5 with the stop loss 49.05
49.00 position is best for the Decide final trend
on a daily and hourly timeframe, National AL is showing bullish Divergence , based on Open interest data stike price 65 has a good resistance however strike price 60 has a good support as well. need to see call writing at 60 and 62.50 stike prices.
based on the hourly time frame an entry can be made at 62.30 and above with and SL of 60.
Outlook: Bearish. Trend is bearish as It continue to stay below 200-day EMA. As well, MACD signals bearishness by heading below zero. Expect this series would be below 72. Suggest to write 75 call @ 0.55.
National Aluminium Company Limited is engaged in the production of alumina, aluminum and power. The Company operates in three segments: Chemicals, Aluminium and Unallocated Common. Chemicals include calcined alumina, alumina hydrate and other related products. Aluminium includes aluminum ingots, wire rods, billets, strips, rolled and other related products. Bauxite produced for captive consumption for production of alumina is included under the Chemicals segment and power generated for captive consumption for production of aluminum is included under the Aluminium segment. Wind power plant commissioned primarily to harness the renewable energy sources is included in the Unallocated Common segment. Its geographic segments include India and Outside India. It is engaged in various sectors, such as bauxite mines, alumina refinery, aluminum smelter and electricity generation. It caters to Bangladesh, Korea, Malaysia, Vietnam, Turkey, Thailand, Indonesia and Singapore, among others.
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NATIONALUM
![NATIONALUM: [Intraday] NATIONALUM Inside Bar Long Trade](https://s3.tradingview.com/m/M5xF2BoL_mid.png "[Intraday] NATIONALUM Inside Bar Long Trade")
![NATIONALUM: [Positional] National Alum Compression Trade](https://s3.tradingview.com/4/4Uo06tT9_mid.png "[Positional] National Alum Compression Trade")
