National Aluminum breakout confirmed of 15 month correction and consolidation zone now back to retest zone multiple support around 93 zone with support as 93 day closing bases one can go long for rally upto 110-115-125 . in next6 month
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metal sector has been doing extremely well and National Alum has been outperforming. This is one chart which is bullish even in a bear market.
The trend is buy on dips. there is a strong support at 118.75 level and the stop loss should be below the support.
NATIONAL ALUMINIUM LONGReasons to buy:
-RSI above 60
-Recent MACD Crossover
-Higher volume in the past 5 trading sessions
Fits all three criterias! It's a buy!!1
Nationalum Oct Futa. Zone: Strong Bear
b. Resistance 1: 33.20
c. Resistance 2: 35.60
d. Support 1: 32.20
e. Support 2: 30.20
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Frequently Asked Questions
The current price of NATIONAL ALUMINUM FUTURES is 227.71 INR — it has fallen −1.79% in the past 24 hours. Watch NATIONAL ALUMINUM FUTURES price in more detail on the chart.
The volume of NATIONAL ALUMINUM FUTURES is 4.55 M. Track more important stats on the NATIONAL ALUMINUM FUTURES chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For NATIONAL ALUMINUM FUTURES this number is 64.78 M. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for NATIONAL ALUMINUM FUTURES shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for NATIONAL ALUMINUM FUTURES. Today its technical rating is sell, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of NATIONAL ALUMINUM FUTURES technicals for a more comprehensive analysis.