Opportunistic Trade ( Metal Stock )

This metal counter has been volatile lately and that’s because of profit booking at higher levels . We have picked this stock for a short term trade at 66.90 targeting over 77 / 80 in 2 weeks time . The stock has multi day resistance at 71.40 above which it can see levels of 80-82 again .

Overall metal sector is showing some profit booking after Chinese announcement of inventory release of strategic non ferrous metals to control commodity prices , but we feel the stock has renewed interest in 2021 and its worth the risk .

Stock name : National Aluminum , Reco price 66.90 target 77 – 80 in 2 weeks stop loss of 62 / 63 on closing basis.

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