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ParamjitMahapatro

metal sector looks bearish

Short
Nifty Metal Index (NSE:CNXMETAL)  
ParamjitMahapatro  
NSE:CNXMETAL   Nifty Metal Index
Trend Analysis Chart Patterns sector_analysis Bearish Patterns downtrend
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trendanalysis chartpattern sector_analysis bearish downtrend
In weekly, after a strong uptrend, head & shoulder pattern formed then price broke the neckline and pattern confirmed.

snapshot

Bolinger band is in downtrend and price is pushing the lower BB downwards.

So we can see selling pressure in metal stocks like tatasteel, hindzinc, welcorp, hindalco, vedanta etc.
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