NATIONALUM has been following the trendline starting Nov'20 pretty well. Currently, I feel it has overextended itself because of its June rally. We can see the intersection of Fibonacci retrenchment (0.236) and the said trendline at around Rs. 75 mark. I feel that NATIONALUM will continue to fall till Aug first week before carrying on.
I feel BTC will have a short rally till 40500 mark (Resistance at 41500). Continue in the 38500-40500 mark for some time before again testing supports. Post a triple bottom formation, its immediate target would be 52000.
EIH has been trading in the rising channel. The current resistance will be Rs. 120 for this week ( 31 May- 4 June). The hospitality sector has taken a big beating in the pandemic, so the price is essentially the minimum that we are getting. My target by the end of 2021 is Rs.160.
