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Niftymetal

#JSWSTEEL Analysis For SwingJSW steel is performing too well from starting of 2021 but get slow down in mid 2021 till now. NSE:JSWSTEEL . JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe. . If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade. . JSW STEEL has taken resistance from 770 to 785 Often. . Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400. NSE:NIFTY . ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout. . Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position in NSE:JSWSTEEL . . Target Could be 200 Moving Avarage, And stop loss is above resistance level
NSE:JSWSTEELShort
by Dev_Agrawal_
HINDUSTAN COPPER LTD - Keep an Eye + Double Bottom Pattern 📊 Script: HINDCOPPER (HINDUSTAN COPPER LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY METAL 📊 Sector: Commodities Metals & Mining 📊 Industry: Non - Ferrous Metals Copper Time Frame - Daily Script is forming Double Bottom Pattern as shown in a chart. Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages also giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Script may give breakout of Double Bottom Pattern. 📈 Current RSI is around 65. 📈 One can go for Swing Trade ONLY ABOVE 125. BUY ONLY ABOVE 125 ⏱️ C.M.P 📑💰- 123.40 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:HINDCOPPERLong
by radha_23
1
Weekly Analysis 31st Dec 2022S.no Sector Remarks 1 Nifty Closed at 18105 up by 300points, last week’s low of 17780 was breached by only 5 points and then market reversed. All the sector’s participated in reversal except pharma. Weekly & monthly Tf is still not bullish but daily TF is showing signs of reversal. Now this index should not close below 18000 else next leg of downward rally will be fast. On upside if 18264(fri high) is crossed then 18323, 18385, 18500 will be resistance to watch out. On downside below 18000, 17800, 17636, 17550 will be imp levels to watch out. Need to keep eye on HDFC twins (HDFC ltd & HDFC bank) coz both are consolidating for 7 weeks now, Either side momentum can make or break NIFTY 50 & Banknifty. 2 Nifty Bank Closed at 42986, tested low of 41569 recovery in this index helped overall market. Daily closing above 43622 will take this to 44000 which will be tough resistance to crack. Above 43622, 44000, 44300, 44400, 44575,44850 will be levels to watch out for. On weekly TF this index is making higher high & higher low structure so till the time 41650, 40800 are not breached there is nothing much to worry. So put alert for level and once these levels are breached, book all position in bank stocks 3 Nifty PSU bank Closed at 4318, made low of 3843 and reversed. Banknifty and PSU bank making similar structure and now weekly closing above last week’s high of 4409 will bring momentum. Personally, I would like some correction in this index to initiate fresh trade, current levels are not good risk reward wise. Upside levels 4575,4760, 4870, down side support levels 3815, 3522, 3366. Around 3480/3500 index level we can initiate longs in PNB, Bank of Baroda, IOB 4 Nifty Auto Closed at 12611, took support at 12140 and then up around 400 points over last week close. Now this index should give 2 consecutive daily close above 12759 else this is sell on rise index for me as of now. On upside 12885 will be the tough battle to win for bulls, on down side 11800/12000 will be the crucial support levels. Escorts at 1800, TVS at 960, M&M around 975/1000 levels will be great buy. Put alerts for these prices in your system so that you dont miss out on opportunity 5 Nifty IT Closed at 28621, made low of 28209. On weekly TF this index has made inverted hammer, which is not good sign, till 28000 is intact nothing to worry below this 26313 will be the support. But sell off in Nasdaq is putting lot of pressure on our Indian IT stocks also. INFY around 1363/1400, TCS around 2973 will be great bargain. Currently wipro structure is looking good, above 398, 415, 425 looks possible 6 Nifty Infra Closed at 5252, took support at 5138. upside target of 5300 achieved now we should wait for 4979, 4882 levels to initiate longs 7 Nifty Pharma Closed at 12597, as mentioned last week also this index is not very bullish, around 12057 levels we can initiate long term bets in CIPLA, Drreddy, sunpharma etc. Wait n Watch sector 8 Nifty Metal Closed at 6723, took support from 6194 and gave good up move. China increasing tariff on their steel exports gave momentum to our metal stocks. Now 2 daily close above 6804 can take this index to 6900/6960.I will avoid this sector for fresh long as I am not interested in news driven growth 9 Nifty FMCG Closed at 44171, took support at 44057. On weekly TF made bearish candle and below this week’s low of 44057, 43650 can be tested which will be good place to enter in Top FMCG stocks. On upside 44960,45228, 45400 will be the levels to watch out. ITC at 314, HUL at 2466, tata consumer at 748 will be good place to initiate longs 10 Midcap & Small cap Midcap closed at 31509, took support at 30000 and gave nice upmove of 1500 points. Personally, I got many scripts at very good price and booked out of some. Now 31944 is imp resistance to watch out for above which another leg of rally can come on down side 30000 is imp support. If not entered in last week’s fall, wait for another round of selling to enter good midcap stocks. Small cap closed at 9731, took support at 9100, above 10000 we can expect some fireworks. I would recommend to keep booking or locking profit in both the indexes as i am not fan of V shape recovery 11 Nifty Energy Closed at 25869, made low 24665 and reversed. On upside 26325, 26700, 27000, are imp levels, on down side 24760, 24260 are very important support levels. Reliance around 2370 is good place to go long although as of now reliance structure is not bullish
NSE:NIFTY
by ssudhirsharma11
1
NIFTYMETAL Bullish But....I am very much bullish on METALS But.... Considerations - 4Monthly Chart Index in focus - CNXMetal Details - 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 at a larger time frame near to 52 weeks high A flag pattern and a correcting RSI If we manage to break the current ATH then we may see a mega bull run in metal sector irrespective of the commodity price, which I feel have bottomed and will consolidate at current levels. Only concern is ADANI Enterprise, it has the highest allocation in the sector. Also it is trading at a very very high valuations. It is having an RSI of 97 on 4M candle, I see the correction will be there in next one year or few months. I AM SHORTING FOR SURE! I feel that the core metal producers will have an upper hand in this rally and not ADANI BUT.....This is valid if the metal index does a break out above ATH Top constituents by weightage Tata Steel Ltd. 20.41 JSW Steel Ltd. 15.83 Hindalco Industries Ltd. 14.76 Vedanta Ltd. 7.80 Jindal Steel & Power Ltd. 4.56 APL Apollo Tubes Ltd. 3.90 Steel Authority of India Ltd. 2.83 Hindustan Zinc Ltd. 1.79 National Aluminium Co. Ltd. 1.57 I am bullish on GPIL and VEDL Disclaimer - Please DYOR, Don't take any position based on the above calls.
NSE:CNXMETALLong
by Cryptified_Soul
JSW STEEL ANALYSIS ON DAILY TIME FRAMEGood 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 formed a lower low & lower high. -->Now this setup looks good for selling with all these confirmations. If there is any small retracement and price came back to 657 -660 levels we can short with a SL of just 30 rs. -->Those who trade options may plan accordingly stop loss levels will be same (690 levels). Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. If you want me to video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
NSE:JSWSTEELShort
by Mo-Kri
NIFTY METAL - Just a viewKey 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. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy Navaratri 🕉️ 💃🏻🕺🏻 Happy learning with trading. Cheers!🥂
NSE:CNXMETAL
by radha_23
WELCORP (WELSPUN CORP LIMITED) - SMALL CAP📊 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 . 📈 Crossover in Double Moving Averages. 📈 Right now RSI is around 60. 📈 Todays volume is higher then previous trading session so we can say it is volume Breakout. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 233.70 🟢 Target 🎯🏆 - 250 ⚠️ Stoploss ☠️🚫 - 223 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy learning with trading. Cheers!🥂
NSE:WELCORPLong
by radha_23
Metal index - Possible reversal zone. 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 initiate shorts in Metal stocks. Fib Level - Retracement pending, 50% of retracement is near 5200. Technical - Successfully completed the Cup and expecting the formation of handle
NSE:CNXMETALShort
by TheStocktrader_Skn
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.
NSE:CNXMETAL
by RK_Chaarts