NIFTYMETAL/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...
NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.
