Nifty Metals (Weekly): 1. Sector has given a breakout from its consolidation range 2. Sector was consolidating from last 1 year 3. Upper Bollinger Band is challenged 4. Also, there is Positive Crossover of 5,13 Weekly Exponential Moving Average
Major constituents of Nifty Metal are: 1. Tata Steel- 21% 2. Hindalco- 18% 3. JSW Steel- 13.5% 4. Vedanta- 11% 5. Adani Enterprises- 10% 6. Coal India- 8%
Note: The above analysis is just for educational purpose.