Keep Rs 365 stoploss in Nalco, says Sukhani
Published on Friday, November 6th, 2009 at 6:11 PMAuthor: stockalert (2026 Articles)
Keep Rs 365 stoploss in National Aluminium Company (Nalco), says Technical Analyst, Sudarshan Sukhani.
“I have picked Nalco and that’s unusual because all eyes including mine are on Hindalco and Sterlite in the aluminium space or Tata Steel. Nalco is doing something unusual because it’s not falling while most of the metals have seen big dramatic declines in the last 15 days and Nalco has been steady. That tells us some outperformance is coming from that stock, that’s a stock which made a good move yesterday; we should see a continuation today, so Rs 365 is a stoploss, Rs 380 is a target. But Nalco itself also a positional buying opportunity, if you want to keep a stock for a few days or a few weeks, you might look at it.”
Source : MoneyControl
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