National Aluminium breaks strong support

National Aluminium Company Limited has witnessed a sharp technical breakdown, falling 4.73% to ₹321.30 and decisively slipping below the ₹330–332 support zone. The ₹330 area had acted as an important support multiple times on the daily chart. Its breakdown now changes the short-term structure from consolidation to weakness. The technical setup is clearly under pressure. The stock is trading below the 10, 20, 50, 100 and 200-day moving averages. RSI has dropped to around 29, indicating strong bearish momentum and approaching oversold territory. MACD remains negative, while ADX is around 20, suggesting that the trend is weak but could strengthen if selling continues. The bigger concern is the lack of an immediate visible support below the ₹330 zone. Based on the price structure, ₹280–285 emerges as the next major support area to watch. However, the stock may find intermediate buying interest before reaching that zone. For the bulls, reclaiming ₹330–332 would be the first sign of stabilization. A sustained move above ₹345–350 would provide stronger evidence that the breakdown was losing momentum. For now, the chart remains bearish below ₹330–332. Traders should avoid assuming that an RSI near oversold automatically means a reversal. Price confirmation remains important. Disclosure: This article represents my technical view based on the chart and is for educational purposes only. It is not a buy or sell recommendation.