Published on 8/07/2021 11:32:48 AM | Source: ICICI Direct

Stock Picks - Buy National Aluminium Company Ltd For Target Rs. 93.00 - ICICI Direct

Posted in Broking Firm Views - Short Term Report| #Aluminium #National Aluminium Company Ltd #Trading Report #ICICI Direct

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

Technical Observations

* The Metal sector has regained momentum after couple of months breather. Within Metal sector, the share price of National Aluminum has relatively underperformed. We expect it to witness catch up activity as it resolved out of 13 years long supply trend line drawn joining highs of 2008-17 (|142-98), indicating structural turnaround and offers fresh entry opportunity

* The stock has already logged a resolute breakout from flag formation (as shown in adjoining chart), indicating continuance of positive bias. We expect stock to resolve higher and head towards our target of | 93 in the coming weeks as it is the measuring implication of the Flag formation

* Key point to highlight since November 2020 is that the 50 days EMA acted as a strong support and subsequently staged a pullback, indicating elevated buying demand. In current scenario as well, higher base formed above 50 days EMA, highlighting inherent strength

Buy National Aluminium Company Ltd @ 81.00-84.00 TGT 93.00 SL 75.00


To Read Complete Report & Disclaimer Click Here


Above views are of the author and not of the website kindly read disclaimer

betvakti elexusbet gorabet maksibet maltcasino milosbet quennbet setrabet atlantisbahis artoscasino dumanbet elitbahis fashionbet favoribahis hiltonbet liderbahis oslobet romabet vegabet yorkbet kalebet bet10bet bahislion bahislion bahislion betpark dakikbet dumanbet fenomenbet holiganbet kalebet kolaybet lordbahis olabahis onwin piabet pusulabet süper10bet vipbahis supertotobet mariobet bahigo bahis siteleri güvenilir bahis siteleri kaçak bahis siteleri betist 1xbet asyabahis betebet betgaranti betlike betvole ligobet pinbahis polobet verabet