The stock of National Aluminium Company Limited (NALCO) has been steadily appreciating since December last year. Last week, it marked a record high of ₹263.10. But then the bulls lost strength, leading to some moderation in price. However, the uptrend has not been invalidated, and the price remains above the 20-day moving average, which is now at ₹239. Also, the price region between ₹235 and ₹240 is a good support band. Therefore, the chance of a rally from the current level appears high. So, participants can buy at ₹243 and accumulate if the price dips to ₹232. Place stop-loss at ₹225. When the price touches ₹255, revise the stop-loss to ₹238. Tighten the stop-loss further to ₹252 when the stock hits ₹265. Book profits at ₹275.

Today’s Stock Recommendation: December 3, 2024
Here’s an interesting stock idea: The stock that we have today is NALCO. The price has been moderating over the past week. But now, it is hovering above a good demand zone. Also, the broader trend remains positive and so, the chances for a rally from here are high. Check out the latest episode of bl.Today’s Pick to learn more.Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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