I am very much bullish on METALS But....
Considerations - 4Monthly Chart
Index in focus - CNXMetal
I have currently taken nifty metal's 4monthly chart, it means that it takes 4 months to form one candlestick
The timeframe will be quite large, the vision that I have might take 1-3 years time
Technically we can see the consolidation happening...
NSE:CNXMETAL seems to be breaking out in 3rd wave of Bull Market.
And ready to scale New Highs. It is resembling the pattern made in 2020 before mega Rally. Will The History Repeat?
I guess so. The Technical Patterns repeat because the Stock Market moves are driven by Human Emotions.
And Human Emotions never change. And hence the Chart Patterns work.
Good Evening everyone,
JSW STEEL on a Daily time frame formed a triple top pattern. The last one is all time high.
-->After creating all time high came down directly and broke the last low before ATH (Horizontal Arrow)
-->Observe the price action after that , Price hardly managed to go to 0.618 Fib level (shown on chart)
->Got rejected from that level and...
Key highlights: 💡⚡
📊 Currently CNXMETAL trading at level 6027 and 6019 is its support level which is also cup & handle neckline which may work as support line.
📊 If it is breaking support level one can go for SHORT into METAL sector.
IF SUPPORT LEVEL IS BREAK THEN ONLY GO FOR SHORT TRADE.
⚠️ Important: Always maintain your Risk & Reward Ratio.
📊 Script: WELCORP (WELSPUN CORP LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY INFRASTRUCTURE / NIFTY 500 / NIFTY SMALLCAP / NIFTY METAL
📊 Sector: Capital Goods
📊 Industry: Industrial Products
Key highlights: 💡⚡
📈 Script is trading at middle band of Bollinger band (BB) and taking support of middle band which is SMA20.
📈 Already crossover in MACD .
When we saw heavy selling in US stocks at the same time we have observed weakness in some of indian index. Metal index is one of them.
5900 is a crucial resistance zone where index been rejected multiple times and even last week price broke out but failed to sustain & friday we saw rejection from the zone. A reversal candle will confirm the pattern and can...
as you can see in image NMDC is near its support zone .
133-137 is very major support .
one can enter into 133-137 .
with strict SL of 127 .
do like my idea if you agree with it and also follow me .
dont panic , correction is healthy for long survival of market .