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Metalsector

CNXMETAL Index special analysisNormally I don't do sectoral analysis but this one demands our attention, fundamentals & price action are both looking good for the metal index. As mentioned in my detailed analysis of tata steel, even the metal index did a possible bear trap. Fundamental wise this sector is the most hottest for the coming weeks/months as China opens up & the COVID wave peaks over there the demand for metals will start increasing, also with the upcoming budget focus will again be on Infra therefore metals will be in high demand. Price action wise this sector has shown the most upside momentum with prices rising ferociously(even i got stopped out in my tata steel short). It looks like prices are headed towards the support of the range(1H chart) that was formed before the severe fall in the broader markets. There is a confluence over there the range support & the 2nd BOS which is required to establish an uptrend, what the prices do there is anbody's guess but it is one sector to keep a watch on as it will give fierce moves wither side.
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by BharatAsani
CNXMETAL - NIFTY METAL INDEXNifty 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 Down tick, Lets see what happens next. Overall wave structure could be like this macd also turned negative cross along with Negative Divergence macd negative crossover in hourly RSI negative Divergence RSI Down Tick stochastic in daily time frame negative crossover stochastic in hourly time frame negative crossover Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
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by RK_Chaarts
NMDC: DIWALI PICK (INVESTMENT)After a long term downtrend , Stock has given a breakout from an Ending Diagonal Structure which suggests that the previous trend is over & a new trend is developing . With the formation of HH HL in an impulsive manner we can say that stock has turn around & is ready to move up. Stock has made a high of 213 breaking all the previous resistance in the zone of 190-205 & the nature of the rise is clearly impulsive. From the highs of 213 stock as corrected 50% & right now trading near the level of 142. One should go long on the current levels and add on dips (if any) . Keeping Sl of 100 one should look for the target of 245/305/375.
NSE:NMDCLong
by TradingSutra
1
TATA STEEL SHOWING A BREAK OUT SIGN!Tata steel stock price has fallen in recent times. However, the price is showing bullish signs now. The volumes are increasing and the price is nearing a breakout. The overall metal index showed a bullish sign. The XABCD bat pattern sets a supply zone/ PRZ which has to be taken out to make a new all-time high. Start booking the profits from the supply zone and trail until the all-time high is broken. The short-covering moves can take the price to the ultimate target set by the XABCD bearish crab pattern. The breakout, stop-loss, and target levels are mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:TATASTEELLong
by Sanjan91
5
COAL INDIA PRICE ACTION ANALYSISCoal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level. The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above this level to continue the rally. The supply zone has been spotted on the chart, which might be a hurdle in the future. Better book profits from the supply zone. Happy trading :) This is just for educational purposes.
NSE:COALINDIALong
by Sanjan91
#nationalaluminium #nalco bullish momentum reverse divergence #nationalaluminium #nalco 4 bar bullish momentum reverse divergence seen on weekly charts that could pull up to 98 levels again. Daily momentum has taken support and bounced up.it could also turn out as a resistance acting as support and change in polarity bounce up move is also a possibility. Long entry on confirmation if next week candle staying above this weeks low as stop loss could work out low risk trade. metal sector is also having enough momentum.
NSE:NATIONALUMLong
by seekedgetrade