One of the stocks which has not hit new highs in the metal rallies. Nalco is primarily into Alumina whose prices have moved from 300-340 over the past one week. This should add over 100cr per quarter in profits for the company. Aluminium prices are also close to a multi year high.
All in all the stock has plenty of tailwinds and could move and finally break out of this 10 year resistance.
Long above 95.50 SL below 92 or 90 for people who would like to give the stock more of a chance to breakout.
Disc: Already own the stock and have been buying it over the last 30 days.
All in all the stock has plenty of tailwinds and could move and finally break out of this 10 year resistance.
Long above 95.50 SL below 92 or 90 for people who would like to give the stock more of a chance to breakout.
Disc: Already own the stock and have been buying it over the last 30 days.