Jindal Steel & Power ready for the uptrend!🤩💸🔥Buy Jindal Steel & Power for Positional Trading as well as Investment.💸🔥💸
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✔️ Technically & Fundamentally Strong💪💪
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💎@technofunda_trader
Few Important rules from my Trading Philosophy:
1. Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-7% in any stock & more than 25% in any particular or related sector. If stock is risky don't invest more than 2-3%.
4. Build position gradually as the stock rises.
5. Trade in the direction of the bigger trend.
6. Ride the trend, don't sell your winners early.
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Niftymetal
Nifty Metal (Sector Detailed Analysis)Nifty Metals (Weekly):
1. Sector has given a breakout from its consolidation range
2. Sector was consolidating from last 1 year
3. Upper Bollinger Band is challenged
4. Also, there is Positive Crossover of 5,13 Weekly Exponential Moving Average
Major constituents of Nifty Metal are:
1. Tata Steel- 21%
2. Hindalco- 18%
3. JSW Steel- 13.5%
4. Vedanta- 11%
5. Adani Enterprises- 10%
6. Coal India- 8%
Note:
The above analysis is just for educational purpose.
NIFTY METAL INDEX - THE SECTOR ON THE RUNNifty metal index continues to charge higher in wave iii of 5, and it pushed MACD towards higher high.
Overall wave structure
RK buy signal activated in daily time frame
Key levels are mentioned on chart
MACD in Daily positive
MACD in weekly positive
RSI in daily uptick
MACD at Higher High
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.
NIFTY METAL in radarNIFTY METAL -> WEEKLY CHART
One index which has to be in your radar for next 3 months is NIFTY METAL. Long uptrend and consolidation going on as Flag and Pole pattern. Breakout above the trendline or breakdown below should carve way further.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
NIFTY METAL is ready to fly again after a Gain of 132%...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
This Index can't be directly traded but just use it as a reference for metal stocks. Just check what metal stocks did after breakout in Nifty Metal.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NIFTYMETAL/NIFTY relative strength chart bullishNIFTYMETAL/NIFTY relative strength chart is getting a bullish support as the price is pushing out of the triangle resistance zone. The 200DMA (green line) is supporting the bullish price action. Further, the price is retracing from the 38.2 Fib zone of the bigger range. We are bullish on the Nifty metal index in the coming weeks with target at the top of the range. Bullish thesis negated on closing below 200DMA.
Breakdown on Trend line with Nifty MetalsOn the last trading day, Nifty Metals had faced the breakdown of his trendline on daily chart. Now it will take support from it's next support level at 5282 & 5169 & then 5000. Such fall in Nifty Metals will cause more panic in market and we will see more decline in price of its major contributor Shares which are Tata Steel (23.56%), JSW Steel (15.38%), Hindalco (15.18%), Vedanta (9.06%).
CNXMETAL (NIFTY-METAL)The metal index is now falling in a-b-c like most of the moves since May 2021.
Here break of the rising channel means we go to test the previous swing low near 5268 and if that does not hold then (c) equal to (a) is at 5090 as the nesxt support level. Each set of abc can be marked as W-X-Y-X-Z.
macd in weekly is negative and down tick
MACD in daily is negative and downtick and now also below zero line
lower bollinger band is challenged by price in daily time frame
RSI in daily is downtick and below 40 levels
dmi adx is also Negative in daily time frame
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses