Nifty Metal Index CMP 9383
Elliott - when the 5th wave is bigger than the 3rd wave, expect a dramatic fall . Here the rally is over and a new set of three wave fall will begin.
Oscillators - both the oscillators are below their MA cross. This is a sign of danger
Fibs - the minimum tgt is back to the lows of the swing at 7800.
Trendline - since the minimum tgt is 7800 it will also break the trendline. Hence the longer term trend will come under question mark..
Conclusion - be extremely careful now on, with this sector
Elliott - when the 5th wave is bigger than the 3rd wave, expect a dramatic fall . Here the rally is over and a new set of three wave fall will begin.
Oscillators - both the oscillators are below their MA cross. This is a sign of danger
Fibs - the minimum tgt is back to the lows of the swing at 7800.
Trendline - since the minimum tgt is 7800 it will also break the trendline. Hence the longer term trend will come under question mark..
Conclusion - be extremely careful now on, with this sector
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.