Nifty Metal Index is possibly completed as a leading Diagonal wave 1 of wave 5 circle, where wave 5 is shorter than 3, and wave 3 is shorter than 1 ( Leading Diagonal )
If its right than possibly wave 2 of wave 5 is now Due or ready to unfold, in macd and RSI we are witnessing negative divergences, along with Negative crossover in Stochastic and MACD, also RSI is...
Nifty metal index continues to charge higher in wave iii of 5, and it pushed MACD towards higher high.
Overall wave structure
RK buy signal activated in daily time frame
Key levels are mentioned on chart
MACD in Daily positive
MACD in weekly positive
RSI in daily uptick
MACD at Higher High
Most investors treat trading as a hobby because...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
This Index can't be directly traded but just use it as a reference for metal stocks. Just check what metal stocks did after breakout in Nifty Metal.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI...
Metal sector is having good momentum and good charm these days, here are some stocks analysed like Hindalco and Tatasteel, both are looking good enough to go long, as per price actions and as well as per elliot waves along with trend indicators.
Indicators of Hindalco
hindalco macd in weekly positive crossover
hindalco macd in daily is positive
rsi in daily...
Nifty Metal: Weekly Chart Poised well for next Up move
Index levels have respected well to the trendlines.
RSI showing good strength.
Cooling off of RSI from the recent Top suggests a good accumulation last 6 to 8 month.
The metal index is now falling in a-b-c like most of the moves since May 2021.
Here break of the rising channel means we go to test the previous swing low near 5268 and if that does not hold then (c) equal to (a) is at 5090 as the nesxt support level. Each set of abc can be marked as W-X-Y-X-Z.
macd in weekly is negative and down tick
MACD in daily is negative...
Strong Bullish momentum in the CNXMETAL is visible on the daily charts. The metals sector growth could be the key sector handholding #NIFTY50 towards the ATH. With 9EMA having crossed the 20EMA upwards and the RSI at 56 the MACD is edging towards crossing the Signal line decisively. The technical patterns indicate a solid momentum that could move the index towards...
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This is a series of videos I am starting so that I can give you guys what I think and am seeing for tomorrow also which stocks to add for tomorrow and how I hold my trades and think during the process :) your fav stocks and you want me to analyze plz comment on...
CNX Metal is so bullish in the recent days and it is in the channel pattern in an hourly time frame, so Lets wait for its either breakout or Breakdown to take trades in the metal stocks
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******