NALCO Eyes Rs 420 Target as Technical Support Holds Firm

National Aluminium Company (NALCO) is showing signs of a near-term rebound as it holds above key technical levels, according to Shivangi Sarda, Analyst-Derivatives and Technical Research at Motilal Oswal Financial Services Ltd. "With fresh buying visible around the 400 level, NALCO stock is getting ready for fresh momentum supported by respecting the key exponential moving averages on the weekly frame," Sarda stated. She advises traders to initiate long positions, targeting a price of Rs 420 over the next two to three weeks.