CNXMETAL at ATH: will it break 13,000?CNXMETAL Daily: Market Overview 📈
Current Outlook 🏗️
The Metal Index is hovering near its All-Time High (ATH). 🏔️
Price recently broke out of a long consolidation range (blue box). 📦
We are currently seeing a minor retracement after hitting the 13,000 psychological level. 📉
Nifty Metal Index
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Index info
The Nifty Metal Index tracks the performance of the metals and mining sector in India, containing 15 of the largest and most liquid stocks listed on the National Stock Exchange (NSE). It is heavily influenced by domestic heavyweights in steel, aluminum, and zinc production, such as Tata Steel, JSW Steel, Hindalco, and Coal India. Because commodity markets are highly cyclical, the index is very sensitive to global metal prices, economic growth in China, and local infrastructure spending, making it a highly volatile index.
METAL INDEX Shows signs of some more Glittering for the year endNSE:CNXMETAL Shows three swings structure, and currently correcting the wave 3 and as far as it could stay within wave 4 range, we could see on more push higher to complete 5 swings. It has already reached the minium and few stocks like TATASTEEL, JSWSTEEL are reacting higher. We are buying at this
NMDC Ready for Next Move?NMDC has shown good momentum in last 2 weeks with strong weekly close, supported by good volumes. Its in synch with corresponding CNX Metal and CNX PSE indexes movement. Especially the PSE index has show good reversal in last 2 weeks with renewed buying interest. The stock has been consolidating in
Nifty Metal: Heating Up or Just Polishing the Armor?After a healthy consolidation phase, the Nifty Metal Index is finally starting to flex some muscle. While it’s been behaving like a shy warrior at a dance-off, the structure now looks technically stronger and poised for a potential bullish breakout.
We’ve seen two failed breakout attempts (clearly
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Displays a symbol's value movements over previous years to identify recurring trends.









