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.
HINDCOPPER (M):- 126 CMP, Looks good for more upsides, invalid below (90 WCB SL)
#JSWSTEEL (D):- 630 CMP, Looks good for more upsides, invalid below (610 DCB SL)
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...
Price after the big bull run witnessed a big fall of a week. A reversal signal came one week before this and now price starts to fall. Reading candle sticks also very important in trading.
Maithanall is going in uptreend along with the support of 25 ema, and is expected to give the target of 1260.
Has broken out of multi-year consolidation. Time to go up
👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 2000 Followers 🔥🔥 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 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
NSE:CNXMETAL New high is ahead as institutions are also bullish to heavyweight
inverted hammer is created in monthly time frame in metal sector so beware taking long positions. long time traders should partially book profit.
Please be careful in metals as it is currently trading below the trend line.
Sail (Monthly):- Breakout Done at 114.40 With Good volume Looks Good for 160/200++ 1) Multiyear Breakout :) 2) Breakout With Strong Volume
#NiftyMetal cmp 3743 tgt 3600-3500 sl above 3850 60min chart #Wyckoff #Distribution #Bearish Though this is not a typical text book distribution, but why to take risk.
It may take support at previous resistance zone and bounce back again.