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Price and trend forecast of NATIONALUM for Tomorrow, Weekly, Monthly

National Aluminium Company Limited

Symbol: NSE:NATIONALUM

ISIN: INE139A01034

182.95

As on 2024-04-16

79.20 (52W Low) 188.80 (52W High)

NATIONALUM's Today's Performance

National Aluminium Company Limited started the day by opening at 179.60 today 2024-04-16. Its shares reached a high of 185.70 and dipped to a low of 178.40 in intraday. When the markets closed, NATIONALUM’s stock price settled at ₹182.95 per share. Also check out its key support and resistance levels.

NATIONALUM Buy/Sell Targets

Tomorrow, buy NATIONALUM when its price reaches ₹ 182.95 with a stop-loss order at ₹ 179.05. You can set the target price as ₹ 186.85 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of NATIONALUM for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for NATIONALUM

Resistance Levels Value in ₹
Tomorrow Resistance 1 186
Tomorrow Resistance 2 190
Tomorrow Resistance 3 194

Important Supports for NATIONALUM

Support Levels Value in ₹
Tomorrow Support 1 179
Tomorrow Support 2 175
Tomorrow Support 3 172
Based on where the stock opens tomorrow, if NATIONALUM opens on a positive note, our first target will be ₹186. If Target 1 is achieved, we will aim for Target 2 which is ₹190.

But if NATIONALUM falls below the average value of ₹182.35, you can enter a sell side position with target number 1 - ₹179 and second target - ₹175 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of NATIONALUM

Looking at NATIONALUM, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, NATIONALUM has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for NATIONALUM is moderate bullish.

Tomorrow's Volume based share price Forecast for NATIONALUM

NATIONALUM's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 34%.

Reversal detection for NATIONALUM

Predicted trend chart of NATIONALUM tomorrow for price forecast
NATIONALUM may trend may continue to be bullish since stock is making higher highs and we can get target of ₹181 in morning tomorrow
Target 1 tomorrow185
Target 2 tomorrow187
Target 3 tomorrow190
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with NATIONALUM's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if NATIONALUM opens on a positive note, our first target will be ₹186.30. If Target 1 is achieved, we will aim for Target 2 which is ₹189.65.

But if NATIONALUM falls below the average value of ₹182.35, you can enter a sell side position with target number 1 - ₹179.00 and second target - ₹175.05

NATIONALUM's Weekly Targets
1st Up Target 187.42
2nd Up Target 191.88
1st Down Target 176.77
2nd Down Target 170.58

As the week for NATIONALUM ended on bullish sentiments, we can expect further continuation of this sentiment. NATIONALUM's initial target will be 187.42 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 176.77 in the upcoming week.

Weekly OHLC Values
Open 182.00
High 185.70
Low 175.05
Close 182.95

Week for NATIONALUM started with an open price of 182.00, and the close was at 182.95. NATIONALUM reached the highest of 185.70 and dipped lowest up to 175.05 last week. This indicates a bullish sentiment for the week.

NATIONALUM full month swing targets
Monthly Up Target 1 198.07
Monthly Up Target 2 202.53
Monthly Down Target 1 166.12
Monthly Down Target 2 149.28

Targets of ₹198.07 can be expected to be reached in the coming month. Once NATIONALUM achieved this target, we can aim for the next upside target of ₹202.53.

NATIONALUM if fails to hold upside, down targets of ₹166.12 and ₹149.28 can be achieved by end of this month.

For complete three weeks if NATIONALUM is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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Summary

NATIONALUM is expected to reach the target of 186.30 in tomorrow's trading session.

After achieving the initial target in NATIONALUM, we will aim for higher targets of 189.65 tomorrow.

However, if NATIONALUM starts to trade below ₹182.35, then we will shift our focus to the sell side and aim for down targets of 179.00 and 175.05.