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The Bajaj Broking Research Desk under their Alpha Trade category has recommended National Aluminium (NALCO) as a strong investment opportunity. NALCO's share price is at Rs. 201.10 as of 11:47 PM, with a target price of Rs. 223 identified by our research team. This recommendation is based on a detailed technical analysis and the stock's recent performance.
Current Status: National Aluminium has shown a structural turnaround with a breakout above a falling supply line that connects the highs of the last month, signalling the acceleration of an upward movement.
Recent Performance: The stock is maintaining a higher high and higher low formation on the daily timeframe, indicating a positive bias. The ADX (Average Directional Index) is above 25, suggesting a strong directional trend.
Target Price: The stock is expected to reach the 223 level in the coming month, which represents the 138.2% external retracement of the recent major breather (206-147).
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National Aluminium presents a solid investment opportunity with promising technical breakouts and financial performance. With a strong market position and a clear upward trend, it is one of the compelling stocks to buy. This recommendation comes from our Alpha Trade category, which has consistently delivered.
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The Bajaj Broking research team has a strong track record under the Alpha Trade category. Here is a summary of our performance:
National Aluminium is recommended as one of the stocks to buy based on its recent breakout and strong technical indicators. This stock is well-positioned for growth, making it a prudent addition to your portfolio. Check out NALCO Share Price
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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