Review and plan for 29th May 2024 Nifty future and banknifty future analysis and intraday plan in kannada.
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----Vinaykumar hiremath, CMT
NATIONALUM trade ideas
330 % PROFIT. I analyzed Triangle Pattern on (19-01-2021).I have identified and Analyzed a "Triangle Pattern" on 19-01-2021, at that Time the Price was 45 rupees. Now SUCESSFULLY Breakout Triangle Pattern and Reach the Triangle Target. Overall PROFIT 330 % within 3 years. So the Pattern is most Crucial in stock market.
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Refer this image : charts.fyers.in
The Divine Rudra Veena made of Aluminium (NALCO)Recently all the Metals are going thru a Major Rally globally with Gold leading the Chart following by Silver, Copper, Steel and now Aluminium joins the Party
National Aluminium has formed an Interesting Pattern on Daily Timeframe resembling a "Veena" Musical Instrument and apparently NALCO is ready to play a divine song :)
Price Broke out of a larger Rounding Bottom pattern above 170 and then retested the BO zone and formed a Small Rounding Bottom pattern - the structure looks like a Veena
The upcoming Targets are 220, 250
Recommendation on NALCO was first given at 142 levels when it broke out of a Multi-Year (16 Years) Rounding Bottom pattern and as on date - we are holding with 35% Gain and waiting for 2x
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NATIONALUMwe are looking NATIONALUM bullish move.
If market take support from channel it will boost to increase buying pressure.
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#Nalco Range #Breakout at ATHAs you can see in the chart, Nalco has given the #breakout at ATH after forming a #Flag on chart.
Nalco was able to sustain when market was falling and instead of much deep price correction, it has consolidated between the range. Today after fight in the range, Nalco was able to coming out of range formed and give #Breakout on stock.
Sustaining this breakout can take it to much higher levels.
If you check the RS of Nalco against Nifty 500, with price breakout stock has also given breakout in RS.
NATIONALUM BIG BREAKOUT & RETESTFundamental Analysis
1. Amazing Book Value
2. Nearly Zero Debt
3. Attractive Dividend Yield 3.30%(Extra Return on Holding for just 1 Quarter)
4. ROE & ROCE is Fascinating above 10-15%
5. Underperformed Like other PSUs and blasted in 2022-23, This Year Metal Sector Will Blast and Nationalum Will be Outperformer of Market
6. Sector Leader with Hindalco
7. Consistent Increasing sales and profit both QoQ and YoY also.
8. Increasing CWIP Will also create more revenue and profit.
9. More than 85-90% of holding is in Ultra strong DIIs FIIs & HNIs(Low Public(Weak) Holdings).
Technical Analysis of NATIONALUM
1. Accumulation phase is over (Big blast Breakout after 15-16 Years Like PFC, REC, TWL,MRPL, Chennpetro)
2. Successful Breakout on Daily, Weekly & Monthly TF
3.Breakout with Huge Volume happening
4. Volume Increased during Accumulation Phase from
5. Retest of Breakout Level Completed and Rejection shown on Daily TF & Buy Signal on H1 TF
Buy @ 130-135 SL - 120 Target- 250
Holding Time 3-6-9 Months
Possible Projected Loss- 10%
Probable Projected Target - More than 80%
NATIONALUM- AnalysisInvestment Levels
Bullish Levels - Above 141 , 163 then 190 then 200 (strong level) then 217 then 244 then 272 to 277 strong level above this you can expect 342 then 419 then 435. or 462
Bearish Level - Below 129 , 108, then 81 then 70 (strong level) below this more bearish.
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National AluminumMulti-year range breakout with slanted inverted head & shoulder breakout already happened in last month close. Price pushing further ahead. Weekly & monthly RSI is around 80 right now which may pose some cooling off consolidation.
Disclaimer: Intended for educational purpose only and it's not a buy or sell recommendation.
NALCO (NATIONAL ALUMINIUM) - SWING TRADING ANALYSISAfter a very long consolidation in a form of Ascending triangle a good breakout is there with a good volume.
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HAPPY TRADING GUYS
@Jagadheesh_Jk
A multi year breakout ? I am waiting for a candle to complete above horizontal all time high line on weekly timeframe. If it does it could give upto 8o% upward move. first target would be around intersection of slanting trendline.
Company backed by strong fundamentals. ROE and ROCE is good. face value 5.
(this my opinion, strictly for educatonsl purpose only )