National Aluminium is already in a strong uptrend.
Reason behind the swing:
1. Taking a support over the drawn trendline.
2. Morning star is made on the trendline support.
3. 55 EMA support.
4. Earnings announced are also good.
Entry will be when it gives a closing >=104 , as it may took a resistance from the zone of 102-104.
Entry : when closed above 104
Stoploss : 97.35 ( placed below the trendline and LOW of doji )
Target : 124+ ( previous swing high )
RR ratio --> 1:3
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reason behind the swing:
1. Taking a support over the drawn trendline.
2. Morning star is made on the trendline support.
3. 55 EMA support.
4. Earnings announced are also good.
Entry will be when it gives a closing >=104 , as it may took a resistance from the zone of 102-104.
Entry : when closed above 104
Stoploss : 97.35 ( placed below the trendline and LOW of doji )
Target : 124+ ( previous swing high )
RR ratio --> 1:3
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!