National Aluminium Company Limited (Nalco) witnessed a 15 percent correction from the top, moving to the sub-Rs 70 mark on Monday. The stock took support around the 20-day moving average (DMA) and then saw a bit of a bounce.
Comparing Monday’s trade and delivery volumes with the last 5-day average, it is more or less in line. However, in terms of F&O play, the stock has come out of the band, so investors might want to keep an eye on it.
Watch the accompanying video of CNBC-TV18’s Nigel Dsouza for more details.