NALCO Stock Poised for Rally, Target Set at ₹420
NALCO respects key averages; momentum building for near-term rally: Shivangi Sarda
The Economic Times
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Analyst Shivangi Sarda from Motilal Oswal Financial Services Ltd suggests that NALCO's stock is gaining momentum, with fresh buying observed around ₹400. Traders are encouraged to buy the stock, aiming for a target of ₹420 within the next 2-3 weeks.
- 01NALCO stock shows potential for a near-term rally.
- 02Current buying activity is centered around ₹400.
- 03Target price set at ₹420 within 2-3 weeks.
- 04Momentum supported by key exponential moving averages.
- 05Analyst Shivangi Sarda provides insights on trading strategy.
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NALCO's stock is currently showing signs of a potential rally, with fresh buying activity noted around the ₹400 mark. According to Shivangi Sarda, an analyst at Motilal Oswal Financial Services Ltd, the stock is respecting key exponential moving averages on the weekly chart, indicating a bullish trend. Traders are advised to consider purchasing NALCO shares with a target price of ₹420 expected within the next 2-3 weeks. This momentum could be a significant opportunity for investors looking to capitalize on short-term gains.
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If NALCO stock reaches the target price of ₹420, investors could see significant returns on their investments.
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