Daily Timeframe Analysis – NATIONAL ALUMINIUM CO LTD on Renko
Daily Timeframe Analysis – NATIONAL ALUMINIUM CO LTD (NSE: NATIONALUM)
This is a Renko Chart with 1% brick size, showing the daily price action.
Key Observations:
1. Trend Analysis:
- The stock formed Higher Highs (HH) and Higher Lows (HL) until December 2024, confirming an uptrend.
- A Break of Structure (BOS) occurred, leading to a downtrend from the ₹250 zone to around ₹181.84.
- Currently, it has bounced from the ₹181.84 demand zone, which is a strong support.
2. Support & Resistance Levels:
- Strong Support:₹181.84 (Green Zone)
- Demand Zone: ₹165–₹175 (Blue Zone, marked as "Strong Low")
- Resistance Levels:
- ₹200-₹201 (Current Resistance)
- ₹210 (Major Resistance Zone)
3. Liquidity Areas & Structure:
- Weak High near ₹250 suggests it might get retested in the future.
-Equal Lows (EQL) were formed before the bounce, indicating liquidity was taken.
-Break of Structure (BOS) multiple times in the downtrend, confirming bearish momentum.
- Higher Low (HL) recently formed, indicating potential reversal.
Trading Plan:
Bullish Scenario (If Price Holds Above ₹200):
- A breakout above ₹201-₹210 could lead to a move toward ₹220-₹230.
- Stop-loss below ₹190 (previous support).
- Target 1: ₹210
- Target 2: ₹220
Bearish Scenario (If Rejected at ₹200):
- If price faces rejection, it could retest ₹181.84, or even the ₹165–₹175 demand zone.
- A short opportunity can be considered below ₹190, targeting ₹181.84 and ₹175.
- Stop-loss above ₹202.
Conclusion:
- Price Action Near ₹200 is Key: If it breaks above, bullish momentum may continue.
- Rejection at ₹200: Could lead to a retest of ₹181.84 or even lower.
- Wait for confirmation before taking a position – A breakout candle in Renko will provide a strong directional clue.
This is a Renko Chart with 1% brick size, showing the daily price action.
Key Observations:
1. Trend Analysis:
- The stock formed Higher Highs (HH) and Higher Lows (HL) until December 2024, confirming an uptrend.
- A Break of Structure (BOS) occurred, leading to a downtrend from the ₹250 zone to around ₹181.84.
- Currently, it has bounced from the ₹181.84 demand zone, which is a strong support.
2. Support & Resistance Levels:
- Strong Support:₹181.84 (Green Zone)
- Demand Zone: ₹165–₹175 (Blue Zone, marked as "Strong Low")
- Resistance Levels:
- ₹200-₹201 (Current Resistance)
- ₹210 (Major Resistance Zone)
3. Liquidity Areas & Structure:
- Weak High near ₹250 suggests it might get retested in the future.
-Equal Lows (EQL) were formed before the bounce, indicating liquidity was taken.
-Break of Structure (BOS) multiple times in the downtrend, confirming bearish momentum.
- Higher Low (HL) recently formed, indicating potential reversal.
Trading Plan:
Bullish Scenario (If Price Holds Above ₹200):
- A breakout above ₹201-₹210 could lead to a move toward ₹220-₹230.
- Stop-loss below ₹190 (previous support).
- Target 1: ₹210
- Target 2: ₹220
Bearish Scenario (If Rejected at ₹200):
- If price faces rejection, it could retest ₹181.84, or even the ₹165–₹175 demand zone.
- A short opportunity can be considered below ₹190, targeting ₹181.84 and ₹175.
- Stop-loss above ₹202.
Conclusion:
- Price Action Near ₹200 is Key: If it breaks above, bullish momentum may continue.
- Rejection at ₹200: Could lead to a retest of ₹181.84 or even lower.
- Wait for confirmation before taking a position – A breakout candle in Renko will provide a strong directional clue.
註釋
Position closed , trade went successful and booked 14 points.
181.8 target achieved.
註釋
approx. 14 points booked in this trade.交易結束：目標達成
approx. 14 points booked in this trade.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。