now lets analyse major heavyweights of metal index -
1. TATASTEEL : TATASTEEL
stock after giving strong result showing its strength and all ready for a up move. stock has resistance in between 506-510 range but crossover as weel as price behavior suggest we might see a breakout and price can hit 2014 June high oh 579.
2. jswsteel : NSE:JSWSTEEL
stock has been in deep consolidation from last 6 month .we can say stock underwent a time wise correction. for the first time price closed above 200 on weekly basis . we expect a immediate up move till 220.
support near 190 ( support)
3. hindalco : NSE:HINDALCO
similar to jswsteel stock was in strong consolidation in between 200-180 level .
4. vedl: NSE:VEDL
either side breakout should decide fate of metals.
range for now 3020- 2900
tatstell 55o target achieved
more to come 580 on cards
jswsteel 221 achieved
hindalco 195( only laggard)