CNXMETAL (NIFTY-METAL)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 and downtick and now also below zero line
lower bollinger band is challenged by price in daily time frame
RSI in daily is downtick and below 40 levels
dmi adx is also Negative in daily time frame
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
CNXMETAL
CNXMETAL STRONG UPMOVE TOWARDS ATHStrong 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 the ATH of 6000 plus
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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 them so that I will analyze all of them tomorrow in the video :)
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➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
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CNX METAL - Channel patternCNX 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
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
CNX METAL ELLIOT FORECASTAnalysis based on technical parameters(No Noise)
The rally that we are witnessing is far from over as far as metal stocks are concerned...On monthly chart what I analyze, "A" wave have completed and c of "B" wave is under prog....tgt for the index is as given in the chart...However selection of particular stock from the corresponding sector is important
Assimilation only for educational purpose...
Trade as per own risk appetite.
Science Backed by Data[All Series]: What recovered ?There's no worse feeling than having the market go up and Still see your portfolio in negative and wondering why my stocks are not recovering ?
Its because FII's, smart investors, LIC and bigger investment groups have churned sectors, rotated money into new sectors. Corona virus brought new opportunities and shut door on some business(which were stars earlier) permanently. This chart how new sectors are attracting money in last several months and shows recovery & rotations of old sectors. It is also showing top stocks in top 3 sectors and shows their relative performance vs sector.
In future chart will bring out best performing stock in each sector( Reliance , TCS , Auropharma ).
Top Sectors emerging from this fall are CNX Pharma , CNX FMCG & CNX Consumption
See how banks( banknifty ) have been battered and bruised in this corona fall.
See how nifty is under performing Midcap and Nifty Jr
Please like and share your thoughts
How 2020 has been a such a washout year.