National Aluminium: Breakout Gains Extend – Bulls in Control ⚙️

Technical View:

continued its bullish run, rising another 2.6% to ₹229.5, confirming a clean breakout above ₹225–₹228 resistance. The stock is now trading at fresh multi-week highs, supported by strong volume (~21M shares). RSI has surged to 70, reflecting strong momentum yet leaving room for further upside before overbought conditions. Price action remains firmly in an uptrend, with candles consistently holding above both 20- and 50-day EMAs. Immediate support lies at ₹222 and ₹215, while resistance is placed near ₹235–₹240. A close above ₹240 could open the next target zone at ₹250–₹255. Price Action Note: The breakout is backed by healthy volume confirmation, and short-term moving averages have turned sharply upward — indicating strength across timeframes. The stock’s recent pullback near ₹215 acted as a strong base for this renewed leg of rally. Fundamental View: The aluminum sector continues to benefit from robust industrial demand, higher LME prices, and government-led infrastructure spending. National Aluminium’s improving operational efficiencies and favorable pricing environment support margin expansion. Its strong balance sheet, export presence, and consistent dividend policy add to investor confidence. Outlook: The bias remains bullish above ₹220. Sustained trade above ₹235 could extend the rally toward ₹250+. Dips near ₹220–₹215 may act as healthy buying opportunities for positional traders.