NALCO 214.30
FIBO SAYS THE BIG FALL IS NOT OVER
This stock is struggling to come over by the 150 bucks fall from all time high. The minimum retrace level is at 220 and currently is trading at 100dma. What i see is that if it comes over by 100dma then it'll test the level of 242-245. 242 is the 38.2% fibo of 335-185 and 245 is the 200dma. This is the level what i'll look for in the future. If it overcome this level then it'll retrace the 150 bucks fall. Or else the 185 will be in danger. Even at this lower level the daiy RSI is near to overbought region daily CCI is at extreme bullish level. 100dma is at 214-216 levels. For any manner it has to come over the 100dma then only we can see some short rally.
FIBO SAYS THE BIG FALL IS NOT OVER
This stock is struggling to come over by the 150 bucks fall from all time high. The minimum retrace level is at 220 and currently is trading at 100dma. What i see is that if it comes over by 100dma then it'll test the level of 242-245. 242 is the 38.2% fibo of 335-185 and 245 is the 200dma. This is the level what i'll look for in the future. If it overcome this level then it'll retrace the 150 bucks fall. Or else the 185 will be in danger. Even at this lower level the daiy RSI is near to overbought region daily CCI is at extreme bullish level. 100dma is at 214-216 levels. For any manner it has to come over the 100dma then only we can see some short rally.
posted by Naveen Pantera at 9:58 PM
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