Niftymetal
Nifty Metal chart has formed a cup & handle after breaking outNifty Metal sector index has been in a parallel channel since 2020 March-April. On 29th April 2021, it broke out of the parallel channel, but retested the same levels by forming a cup and handle pattern. This cup and handle pattern also seems to be broken on 11th June 2021. Which signals bullishness in Nifty Metal stocks.
Analyse Nifty Metal stocks individually and pick a couple of stocks which offer you best risk reward ratio, rather than entering in every metal stocks.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
NIFTY METAL: THE PARTY IN METAL STOCKS HAS JUST BEGUNMetal rally is not over it is a temporary blip.
Reasons why the rally in metal stocks may not end so soon:
1) As there is a strong demand for metals, the supply chain is not yet fully in place and there is an expectation of a super cycle, the party in metal stocks has just begun.
2) The global economic data is very strong. Once the second wave is over, then India’s recovery would also be strong. Eventually, we will see the market following global trends.
3) Chart looks very promising to me. Look at 20 DMA, it is acting as a major support. RSI is forming a higher base,which is a sign of big bullish momentum. Rest is self-explanatory.
Not everyone is equally bearish on the metal stocks. I believe the correction in prices is temporary and will not last.
My favorite picks: TATA STEEL, SAIL, JSW STEEL, & JINDAL STEEL.
NIFTY METALNIFTY METAL, all metal stocks looking highly bullish, also good cup and handle breakout in index showing positive sign.
JSW STEEL, METAL SECTORFIRSTLY THE METAL SECTOR ARE BULLISH.
JSW STEEL MAKING THE CUP AND HANDLE PATTERN AT 1D TIME FRAME. CMP 731.20 AT THE NECKLINE OF CUP AND HANDLE PATTERN.
BUY ABOVE 733.40
T1 - 754.90
T2 - 773 ( ALL TIME HIGH)
IF 15 MIN CANDLE SUSTAIN ABOVE 733.40 THEN ONLY TAKING THE POSITION.
THANK YOU.
Metal is rusting out agian NSE:CNXMETAL New high is ahead as institutions are also bullish to heavyweight
METAL MOVING STRONGNIFTY METAL SECTOR IS LOOKING STRONG AGAIN.
THIS WEEKS CLOSING WAS GOOD.
Next week will be decisive, but looks like its ready for next big moves.
Hindalco, SwingHindalco is forming a symmetrical pattern and can break either side of the triangle. A break above can be traded for long position for targets of 411 and 426. A break on the downside can be traded for short position for targets of 380 and 367. A downside break will lead to the price going below the 50 EMA, and the first target mentioned for 367 is the level of 200 EMA.
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
JSW Steel, SwingJSW Steel is forming a descending triangle. A break from the trendline can be traded for a target of 730 which is a high resistance region with a stop loss of 670. 673 level has support of 200 EMA, that's why SL can be taken at 670.
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
Long on Metal stocks Hey Guys,
Nifty Metals is taking bounce on EMA 20 Days metals rally is not over yet once it will break 5080 and hold its position for 5 to 15 minutes then a strong momentum market will see
🎯 #tatasteel #niftymetal #nifty #nifty50 #banknifty #niftybank NSE:TATASTEEL
short only if you know reversal . if one find reversal at reversal zone in chart than short with given stop loss on chart.
recently we have mind-blowing results in #reliance #lupin #coforge and #tatstee now understand phycology, after this great results all stocks falling from next day do you know why? coz this is market works moves comes first on charts then only news comes and after that from their retailers start buying it and big fishes just start offloading their position so try to understand this.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
🎯 #tatasteel #niftymetal #nifty #nifty50 #bankniftyNSE:TATASTEEL
short this stock if fine reversal at harmonic PRZ. for that you must have knowledge of reversal then only trade on my charts please.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Nifty Metal - Trend Analysis and Important CalloutsNifty Metal Trend Analysis and Important Callouts. Nifty Metal is on uprun from long time. A downward channel is developing any may test main upward channel mid and lower channel support in coming days. If lower developing channel is breakout upwards then Metal may continue to rise as it was doing before.
Will revisit this idea in coming days to see if index has moved out of main upward parallel channel.
Please do leave comment and feedback if you have any. Any feedback is welcome.
Thanks.
NIFTY NEXT 50 indices analysis part-4NIFTY AUTO CURRENTLY IS AT RESISTANCE FOR GARTLEY PATTERN ON .786 LEVEL BUT IT COULD ALSO BE CRAB PATTERN AS .618XA IS THERE IN BOTH GARTLEY AND CRAB
IT MUST CLOSE ABOVE CURRENT BLUE AND MUST SUPPORT IT TO BE CRAB PATTERN.
FOR CRAB PATTERN WE CAN SCORE 364 POINTS
I AM BULLISH ON MARKET
TRADE AND INVEST AT YOUR OWN RISK
NIFTY METALS - Pullback or Correction ?While many TV analysts are still pretty bullish on the steel sector due to global factors on steel, I believe we could witness a small/medium correction in the days to come although the overall picture is still very bullish.
I see long Bearish Divergence. I have broken down the major divergence into smaller blocks and as seen in the chart every time a bearish divergence was formed there was a correction.
It also happens along the top border of the Parallel Channel and this time we have reached the top yet again.
There is also a possibility where the stocks in the index keep galloping this weak which would then nullify the divergence thus breaking above the channel but chances seem a lil less, let's see.
RSI Bearish Divergence on NIFTY METALThe index gave a good breakout yesterday, however the RSI has not been supportive of it.
We can expect correction in metals in the coming days.
Nifty Metal IndexIn this video I have tried to show some interesting aspects about Nifty, Banknifty and Nifty Metal Index. Also, i have discussed few of the interesting stock setups which an individual can use for studying.
NIFTY METAL INDEX BreakoutNIFTY METAL Index is outperforming Nifty 50 Returns and Today we have seen Fresh trendline breakout, We may See Metals Stocks Shining in next few trading sessions. Keep A close watch on TATASTEEL, JSWSTEEL, JINDALSTEL AND HINDALCO
Analysis of Nifty MetalDt. - 03-03-2021
As you can see from the forecasts, in the forecast the index took more than 2 years to reach the target from the bottom and in the second forecast that is after the market crash becoz of COVID-19, the index took less than a year to reach the same target from the same bottom. Share ur views on this.
