NATIONALUM at the Edge of a Breakout — Momentum Building Again

National Aluminium Company Ltd. (NATIONALUM) continues to maintain a strong long-term bullish structure on the daily chart. The stock has been forming higher highs and higher lows over the past several months, indicating sustained buying interest and a stable uptrend. After a sharp rally earlier, the stock entered a phase of consolidation where prices corrected and moved sideways, allowing the market to absorb previous gains. Technically, the stock remains well above its 200-day moving average, confirming that the long-term trend is still positive. During the recent correction, the 50-day moving average near the ₹360 zone acted as a strong support level, where buyers stepped in and prevented deeper downside. This reaction suggests that demand continues to remain active on dips. Short-term moving averages such as the 8-EMA and 33-EMA have started turning upward again, with the price moving above these levels. This shift indicates that short-term momentum may be rebuilding after the consolidation phase. Volatility indicators also show constructive behavior. After an earlier expansion, Bollinger Bands contracted during the correction and the price is now moving toward the upper band again, which often signals the possibility of a fresh momentum move. Momentum indicator RSI has also recovered from the mid-range zone and is now approaching the 70 level, reflecting improving strength. In strong trends, RSI typically remains between 50 and 70 before attempting a breakout. From a price perspective, ₹402 appears to be the immediate resistance level. A sustained move above this zone may open the path toward ₹416 and potentially ₹430 levels. On the downside, ₹372 remains the first support while ₹360 continues to act as a strong demand zone. Overall, the chart suggests that NATIONALUM may be preparing for another upward move if it manages to break above the ₹402 resistance zone with strength.