NALCO builds higher base above ₹320 support

National Aluminum Com. Ltd NATIONALUM NALCO is trading near ₹329 after recovering from the recent ₹298–₹305 low zone. The stock is now above its 20-day moving average near ₹326.85 and 50-day moving average around ₹319.75. This move shows that buyers are attempting to build a higher base after the September–October correction. The important price structure is the recovery above ₹320. After making a low near ₹300, the stock formed a higher low and has moved back toward ₹330. This creates a constructive base-building pattern, but the next move depends on whether price can cross the nearby resistance zone. ₹330–₹335 is the immediate resistance area. A sustained close above ₹335 can strengthen the recovery and open room toward ₹345–₹350. Above ₹350, the earlier swing zones near ₹360 become relevant again. ₹320 is the key support, followed by ₹310. If the stock closes below ₹320, the base-building structure weakens and ₹300 may be retested. The Z-score near 1.28 indicates improving momentum without an extreme overbought reading. For now, NALCO remains constructive above ₹320, with ₹335 as the breakout trigger.