Sudarshan Sukhani of s2analytics.com is of the view that one may see upside in Nalco.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Metals are now
coming into our buy list which is very surprising. Yesterday throughout the week metals were a theme on buying, we were going long and intraday longs were also suggested. Surprising how the worldwide markets or the environment is weak but metal charts in India are looking up."
"Nalco has confirmed a bullish head and shoulder and that has done after a big decline. There is some upside here and it is not a day trade, it is not an instrument you should buy and sell in the afternoon. However, you buy and hold it for a few days and you will probably make money," he added."Metals are not yet an investment idea, not even in a positional trade. They are giving us signs of life so let us take what we get."Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.