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The outlook for National Aluminium Company Limited (NALCO) is bullish. The stock has begun the week on a strong note by rising 3.8 per cent on Monday. This rise confirms that the short-term downtrend that was in place since July has ended. It also signals that a fresh leg of upmove has begun. Moving Average cross-over on the daily chart strengthens the bullish case. Strong support is now in the ₹185-₹180 region can limit the downside. NALCO share price can rise to ₹215 in the coming weeks. Traders can go long now at ₹189. Accumulate on dips at ₹186. Keep the stop-loss at ₹178. Trail the stop-loss up to ₹194 as soon as the stock goes up to ₹198. Move the stop-loss further up to ₹202 when the price touches ₹207. Exit the long positions at ₹210.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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