Hello Friends,
Here we had shared possible Elliott wave counts of National Aluminium chart, on daily time frame, which is clearly indicating that above 66.95 major support level it is purely in an impulsive phase.
According to the Elliott wave structure, the price chart has exhibited the following patterns:
The initial phase consisted of an upward impulse...
Chart -> National Aluminum Weekly
CMP: 89.30
Good Range To Buy: 84 to 90
Targets: 99, 108, 118
SL: 81 Weekly Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
NA
Buy zone_Target 1 and 2 with SL.
Only for education purpose. Investments in stock market is subjected to market risk do own researches before investing.
Tested the resistance three times and finally given the breakout with high volume and no upper shadow.
If, you look further back then you will realise that earlier it was acting as a support and now acting as resistance but it will now act as a support. So, if you got any chances to buy at support then buy for swing trading purpose.
NATIONAL ALLUMINIUM
has come out of its range from july 2022 and is looking buy on dips as long it is above 80 levels ,can reach levels of 95/100/120/130 in coming days, SL 75
FUNDAMENTALS :
# Company virtually debt free
# Good cash flow
# 50% promoter holdings (GOOD)
# Low PE ratio (Undervalued)
# FIIs and DIIs increasing stakes in the co (VERY GOOD)
To be traded for Intraday today
9th June, 2023
NATIONALALUM
Intraday Stock Trade Idea
(15min TF)
#intraday #stocks #priceaction
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 9th June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume...
The long upswing price has retraced back to the 61.8 fib levels, and has consolidated for many weeks in the same region.
View is go long above 87.15, with SL at 82.75, and targets are mentioned in the chart.
National Aluminum Triangle breakout seen. Upside potential till 1.618 fibonacci. All details in chart.
DISCLAIMER: Educational Chart for awareness. Analysis is subject to market risks it can go wrong as well. Not recommended to take FnO positions based on this analysis. FnO Trading is Highly Risky business you can loose more that your trading capital. We are not...
The stock has been trading below it's important support/resistance zone for a year.
It has formed an ascending triangle.
Buy above 86.6 (intraday for 0.7-1% gain) and carry positional on day closing basis for 3-5% positional gain.
Once we have a weekly closing above this level, we can expect much bigger targets of 94 and 98.
Learn & Earn,
Dr. Tanya Kumar
Investment Stock - National Aluminium
Key Points-
Consolidation on Monthly TF
2nd swing break level.
Weekly Inside candle breakout.
Pros. (Financials)
1) Debt Free Company
2) Stock PE is around 10 and Industry PE is 24
3) Dividend % in last 5 years- (7-8%)
4) Stock is trading at 1.12 times its book value
Cons.
1) No Sales growth from last 1 year.
