Overall, the market is likely to remain positive as long as it sustains above all key moving averages. Below are some trading ideas for the near term.
NALCO formed bullish candlestick pattern on the daily charts, with strong volumes. The stock traded well above all key moving averages (20, 50, 100 and 200-day EMA - exponential moving average), which is a positive sign.
Net Sales are expected to increase by 11 percent Y-o-Y (up 17.7 percent Q-o-Q) to Rs. 1,159.8 crore, according to Nirmal Bang.
The stake was bought at an average of Rs 800 per share, through the open market on June 6.