Metals index observationsMetal Index obervations:
- Metals retest of BO line done today. Whether successful?? need to check chart for next few days.
- Level closed on 20 DEMA support.
- Super trend is still in buy zone.
Need to wait for uptrend continuation confirmation on chart in coming days.
*Analysis only for educational purposes. Not a recommendation,
Metalsector
Bullish Engulfing & Cup & HandleIn Nifty Metal, today Bullish Engulfing have been formed.
And also gave breakout from the handle of the cup.
The pattern is small tough. Let's see how it goes.
We may see breakout from the resistance line soon.
Let's see.
This post is for information purpose only.
Just sharing my own analysis.
High Probability of Strong Momentum FurtherThis is 1D timeframe.
This stock took yesterday a very strong support at very big trendline( 1+ yr on daily TF).
Yesterday's wick is very big and it indicates that it wouldn't go down that easily.
Sellers tried but cannot take it down.
Today it shows hugh momentum and moved +20% up.
I tried to find but I can't find any important news as such that it took it up this high.
Here I comes to know that it is totally on technically based rally.
Today's candle is very bullish and thick.
If it gives breakout tomorrow or in coming days, there's a chance that we may again witness same strong momentum in future.
This post is for information purpose only.
Just shared cause I like to share my analysis.
I'm not a pro trader.
National Aluminium - Monday Trade | 12th JulyLevels mentioned in the chart.
Please use comment section for any queries/suggestions :-)
NATIONALUM has given a BREAKOUT.The long correction of NATIONALUM has finally ended with a bang of 7.3% and it is expected that the stock will now follow the footprints left by the BULLS.
HINDALCO: BEARISH TRIANGLEAfter a sharp decline followed by a consolidation in a triangular structure , hindalco seems about to give a zigzag correction. As per the triangle structure one should sell the stock with SL of 402 and look for the downside target of 365/345 zone .
Metals may see a reversal, JSWSTEELJSWSTEEL is at support on day time frame. One can go for a long trade to have a good swing from here.
SAIL BALSTED- 15% DONE MORE JUICE TO COMEI am continuously giving buy calls in sail. Recently Gave This Buy Call on 3rd May 2021. In Just 7 days it has given us bumper profit of more than 15% and more to come.
This is the call I gave on May 3
Gave Call To Buy on April 22
Gave Call To Buy On April 6
TATA STEEL CONSOLIDATION ZONEAs we can see tata motor is following trendline ....
it is taking support from this trend line ...may be it will consolidate following to this tredline..
BUY ABOVE-978
SHORT Below-960
SL maintain FOR BOTH-870
if it might break then we can see fall for 1 or 2 trading session...
it might be give false breakout ...so take trade wisely
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JSW SteelThe stock has attempted a breakout from 185 zones 3 times and has reached a stable point, with the good performance of the metal sector, JSW is a long opportunity with a good breakout towards 203.
