NALCO continues to trade in a well-defined bullish structure, respecting an ascending trendline with consistent higher highs and higher lows — clear sign of buyer dominance.
Zone Analysis:
Price is currently reacting near a key supply/resistance zone (~440–445)
Immediate Buy Zone around 430 acting as support
Stronger base visible near 410 zone
Momentum (RSI Insight):
RSI is near the overbought region (~70), reflecting strong momentum
A mild bearish divergence is forming → indicating possible slowdown, not necessarily reversal
Market Behavior to Watch:
Price action near supply will decide the next move
Either acceptance above resistance or reaction leading to a pullback into Buy Zone
Trading Perspective:
Trend remains bullish until key support holds
Avoid chasing at resistance; better decisions come near value zones
Let price confirm before taking directional bias
Strong trends often pause at supply before continuation — patience is where edge is built.
#TechnicalAnalysis #PriceAction #SwingTrading #StockMarketIndia #NALCO #RSI #TrendFollowing #Tradewithsahil
Zone Analysis:
Price is currently reacting near a key supply/resistance zone (~440–445)
Immediate Buy Zone around 430 acting as support
Stronger base visible near 410 zone
Momentum (RSI Insight):
RSI is near the overbought region (~70), reflecting strong momentum
A mild bearish divergence is forming → indicating possible slowdown, not necessarily reversal
Market Behavior to Watch:
Price action near supply will decide the next move
Either acceptance above resistance or reaction leading to a pullback into Buy Zone
Trading Perspective:
Trend remains bullish until key support holds
Avoid chasing at resistance; better decisions come near value zones
Let price confirm before taking directional bias
Strong trends often pause at supply before continuation — patience is where edge is built.
#TechnicalAnalysis #PriceAction #SwingTrading #StockMarketIndia #NALCO #RSI #TrendFollowing #Tradewithsahil
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.