On the weekly timeframe, NATIONALUM is showing a clear trend reversal structure after a prolonged corrective phase.
The price has formed a rounded bottom pattern, indicating gradual accumulation and a shift in market sentiment from bearish to bullish. Such structures generally reflect smart money participation rather than short-term speculative moves.
The highlighted zone around ₹245–₹250 acted as a strong resistance in the past. Price has now broken above this level with strong weekly candles and increased volume, confirming a valid breakout. This zone is expected to act as a major support on any pullback.
Post breakout, the stock is maintaining higher highs and higher lows, which confirms the start of a medium-term uptrend. The price structure suggests healthy continuation with intermediate consolidations rather than a vertical move.
Based on the pattern height projection, the stock has the potential to move towards the ₹340–₹350 zone over the medium to long term, provided the broader market remains supportive.
Invalidation / Risk Management:
The bullish structure remains intact as long as price holds above ₹240–₹245 on a weekly closing basis. A weekly close below this zone may weaken the setup.
Additional observation: Strong ROCE & ROE, healthy margins, improving EPS, reasonable dividend yield, and low debt provide fundamental comfort to the technical breakout.
Disclaimer: This view is for educational purposes only. Not financial advice. Please do your own analysis before taking any trade.
The price has formed a rounded bottom pattern, indicating gradual accumulation and a shift in market sentiment from bearish to bullish. Such structures generally reflect smart money participation rather than short-term speculative moves.
The highlighted zone around ₹245–₹250 acted as a strong resistance in the past. Price has now broken above this level with strong weekly candles and increased volume, confirming a valid breakout. This zone is expected to act as a major support on any pullback.
Post breakout, the stock is maintaining higher highs and higher lows, which confirms the start of a medium-term uptrend. The price structure suggests healthy continuation with intermediate consolidations rather than a vertical move.
Based on the pattern height projection, the stock has the potential to move towards the ₹340–₹350 zone over the medium to long term, provided the broader market remains supportive.
Invalidation / Risk Management:
The bullish structure remains intact as long as price holds above ₹240–₹245 on a weekly closing basis. A weekly close below this zone may weaken the setup.
Additional observation: Strong ROCE & ROE, healthy margins, improving EPS, reasonable dividend yield, and low debt provide fundamental comfort to the technical breakout.
Disclaimer: This view is for educational purposes only. Not financial advice. Please do your own analysis before taking any trade.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน