National Aluminium: Bullish Continuation Above Key Levels ⚙️

Technical View:

M extended its upward move, gaining over 3% to close around ₹223. The stock has broken above short-term resistance zones with strong volume support (~32M shares), signaling renewed bullish momentum. RSI around 66 indicates healthy strength without being overbought. The price action shows a clear higher-high, higher-low formation, suggesting trend continuation. Support lies near ₹215 and ₹208, while resistance is seen at ₹228–₹235. A sustained breakout above ₹235 could drive the next leg higher toward ₹245–₹250. Price Action Note: The stock has been consolidating for weeks and is now showing strong follow-through buying with firm participation. Price comfortably trading above the 20- and 50-day EMAs adds confidence to the ongoing trend. Fundamental View: National Aluminium remains a key player in India’s aluminium sector, benefitting from robust domestic demand, rising global aluminium prices, and capacity utilization improvements. Backed by strong government capex, infrastructure projects, and renewable energy adoption, earnings visibility remains positive. The company’s healthy balance sheet and dividend track record further enhance investor appeal. Outlook: Momentum remains bullish as long as ₹208 holds. Sustaining above ₹228 can accelerate the rally toward ₹245+. Dips near ₹215–₹210 may provide attractive short-term entry opportunities