Buy above 68 for a target of 78showing some strength with volumes. expecting some more upside but the market is in complete downtrend so do not carry without stoploss at 61.50.
NATIONALUM trade ideas
NATION ALUMINIUM is Long Positional for a Target of 95 CMP 69NSE:NATIONALUM one can buy for a Target of 95 with SL 66.
National Aluminium - Possible Head and ShoulderAfter a sustained bull run, National Aluminium has formed a head and shoulder pattern indicating a correction. Its currently at crucial support level. If it breaks 71, then it might drop to 61.00.
Enter - 71.50 - 72
Take profit : 61:00
Stop-loss :74
Please do your own research before entering the trade.
If you have any feedback, do send it.
NationalAluminium #LongTermBaseFormedStrong long term base formed in National Aluminium currently trading @ 87
If gets at lower levels around 80-84 range buy 50% and add further on fall towards 75-77 and hold with 70 stop loss for Targets 100-110 & 130-170
Long NALCO with Target of 90 and SL 79.51.Aluminum company Nalco had reported bumper Q2 results last week, with a close to two-fold rise in net profit at Rs 234.63 crore for the quarter ended September 30, compared a net profits of Rs. 121.2 crore in the same quarter last year.
2.With China cracking down on illegal and highly polluting aluminum producers under new environmental norms, aluminum prices are expected to remain high, a boost to producers like Nalco. Additionally, higher bauxite and caustic soda pricing is also expected to impact aluminum pricing.
3.Nalco has now said that it is looking to expand its mineral explorations in Africa, through a JV with Mineral Exploration Corporation (MECL) and Hindustan Copper (HCL).
4.The companies have identified twelve "strategic minerals" - including tin, tungsten and titanium - that are not significantly available in India, but have deposits in South Africa and other African countries. The planned JV, Khanij Bidesh India, will explore possible sources in the region.
Swing Trade in NATIONALUM @ 89Will take swing trade in NATIONALUM @ 89, time frame 1 week. Keep Sl 83 (Closing basis). Target open.
National Aluminium -Bullish break to target higher pricesNALCO at new high on break of horizontal resistance. MACD turning to buy mode.
nalco- alert cup and handle formation(breakout time)stock has been in a c&h pattern formation for 3 years . breakout above 85 for 130 targets
National Aluminium is on the verge of cup and handle breakout. Long national Aluminium if this weeks close is greater than 84. One can keep SL below 75 for a targets of 100 and 120.
Possible failed Rally 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 double bottom breakout 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.
NALCO 2017- Buy in Arithmetic Zone 32-35 in August Fair 2017S-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.
In our childhood, all of us, use to get excited when our parents took us for a visit to a nearby fair- why- because we get so many good things at the cheapest & best rate.
What is the connection of Fair & Nalco
In the last couple of years NALCO comes out with a fair every August Month- So, won't you be interested to buy something for yourself in the upcoming Aug2017 Fair.
Since 2008 highs of 141- Nalco has travelled down in irregular flat correction (W)-(X)-(Y) making a low@24 in Aug2013
Pushed up to 69 Highs in Sep2014 & had a fall, making a higher low@28 in Aug2015 compared to low in Aug2013.
From Aug2015 lows@28 -Again pushed & made a new high@73 in current month of Dec2016.
Observations
Look at the Arithmetic Progression at recent lows & highs-24+4 =28 -- 69+4 =73-- Next in the series-- 28+4 =? (Range of 32-35)
Trading Strategy
One should look for the arithmetic progression zone of 32-35 as the buying opportunity zone in this stock or going above 73 highs which got rejected recently by sellers.
Nationalum- Breakout with Volumes- Buy SetupAs 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
