gold currently in a visible uptrend , with support range in 1700 /1689 while hurdle at current level if current level hold a sharp upmove cant be denied of 50 /60 $ in gold while downtrend will begin in short duration if breaks 1700 on downside trade accordingly
risk reward as far as i think its good in long trade , then to go short , i can be wrong but its fine , as the sl is small , while in short trade i might get stuck ! and reward nthere is clearly undefined !
1) Increase in crude and INR not good for economy and also for metal companies as pricing is done based on LME price 2) resistance from trend line
TATASTEEL: is a weak pullback this morning and got sold into with recent top of 588 as stop-loss one can look into selling the stock at 576 with target at 554
Metal is a promising platform amid a chock-block cryptosphere. Launch of their platform is due soon before the end of this month. Also we can see massive accumulation. Good FA backing this up.
Sail is consolidating since 1 month after big move earlier and since then trading in symmetrical triangle, now it's near support zone as shown in chart, and as the triangle getting narrowed, expect a breakout soon, most probably a upside breakout as volume is not great during fall also RSI & CMO is in oversold zone, so expect a reversal in trend, and as it break...
Hindalco is near strong support line and trying to breakout from small trend line, if succeed then can travel back to it's resistance zone 264-266 levels as shown in charts, and once break past 268 expect to see 280+ in fast & furious mode.
Descending Triangle formation on Tatasteel. Trade: Short below - 410.50 Target - 405 Stop Loss - 415 Reward Points - 5.5 Risk Points - 4.5
Breaking out of a trendline and a C5 made. This stock can be a multibagger in the making... Fundamnetally the stock is doing great and the value will unlock soon
It is a good time to focus on metal related stocks as the price action on metal index just broke out from consolidation on daily chart. Buyers showing interest in metal and building pressure to move prices up.