A good medium to long term play keeping the electronic vehicle scene in mind. A good breakout with small retracement candles. A good spot to enter keeping stoploss at 5-10%.
Nalco has been on a bull run for quiet a while now. However it has been repeatedly taking new highs. The fundamental on the company is equally strong to stay invested.
A breakout above 120 levels with strong volumes will be poised for a good entry. However, keep an eye on overall market conditions so that the breakout does not fail.
The stock has been on a primary uptrend and paused due to global market corrections. Subsequently it has formed a cup and handle pattern giving a clean setup to go long upon breakout.
Breakout above 160 with solid volumes can play out extremely well.
Keep stoploss at levels below 155.
