CNXMETALs as per our last week's view, just an update There is possibility of Metal Index hitting the lower trendline of this channel in coming week
Focus on metal sector, as it gives breakout from long consolidation Look for open close today..
metal index crash happen coming to 38% retracement zone 4151 zone also 2018 top high level can turn support timewise 14-15 bar can show reversal for short term near 18-24 july zone for higher level 5039-5808 aayeshatech
buy nifty metal index 5211 and stoploss 5081 this index complete all type of correction
Fall below 5180.30 leads to Support At Retest 4500.85 IZ 4446 to 4491
Nifty metals index turned bearish It can test 4100 levels sooner or later which can pull nifty to 14k levels.
We can see a rising trendline support for MEtal index break of it may give us more pain good stocks in metal index at support levels are jindasteel 454 vedl 317 jswsteel 635 coalindia 167 hindalco 399
Metal Index at Support, if does not break ready for upmove.
Overview of Nifty Metal Index: After a long recent run-up as we can see on the chart, it made an Evening star pattern at an all-time high which is a bearish pattern and after consolidating for a while it has started moving down. On Friday too it made a Bearish closing and is now near its swing low. If it breaks down there is immediate earlier resistance which...
Nifty 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...
Divergence wrt NIFTY 500 relative strength.. Could either see a range bound price action or decline in Metal stocks.
Nifty Metal (Weekly): 1. Nifty Metals has given a Chanel Breakout. 2. We can consider going long on Metal sector 3. Also upper Bollinger Band is challenged 4. RSI is above 60 levels A perfect Bullish condition Major Stocks in Nifty Metal are: a) Tata Steel 23% b) Hindalco-18% c) JSW Steel 15% d) Adani Enterprises-12%
CNX METAL SECTOR.... this sector is showing very good strength in the weekly time frame..and it has also formed two patterns ...so we can see a good rally in the metal stocks ...tata,jsw,jindal,sail and many more .
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....
CNX METAL Breaking out from range after 8-9 months DarvaX followers will be happy to see this pattern!! Can lead to a fresh rally in Metal Stocks
Nifty 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...
Nifty Metal INDEX has broken out of a long consolidation phase(greater than 200 days of consolidation 6310 is the level if we get a daily close above this a new momentum can be started on the upside. MACD(the momentum indicator) has also given a breakout. Strong stock in this index should be on the radar NSE:HINDALCO NSE:NACLIND NSE:TATASTEEL NSE:JSWSTEEL...
CNX Metal index is in the consolidation mode since many month's. 6300 is very important level for this index. If it gives a weekly closing above 6300, then we can expect a huge up move in the Metal stocks. It will be a bad sign for common people as all the commodity rates will sky rocket. Keep an eye on Tata Steel, JSW Steel, Hindalco etc.