NIFTY METAL - Bearish zone 1. It breaks the 1st support zone 4830 on the downside this week. 2. In a bear trap, the next support will be at 4490, and 4200 respectively. 3. Till it gets support most of the metal sector will be in a downtrend in upcoming weeks. 4. Example: TATA Steel will be on a more downtrend in upcoming weeks. Note: 1. I’m not a SEBI Registered...
Weekly closing above trendline support with bullish RSI divergence shows bullish bias. Potential broadening wedge pattern is more likely to form as highlighted if it sustains above trendline support on weekly timeframe. If this plays out as expected, then the max upside should be around 7250 level (top of the wedge pattern). Everyone is having a bearish outlook...
CNX Metal: Completed its Wave 5 right round 2.618 and started to falling. Appears Wave A is in a progress and meaningful reversal will be B. Ultimately it will go down to complete C. A meaningful bounce will be opportunity to exit. See you at C.
Nifty metal will create portfolio only at BO. above 200 DMA
nifty metals is ready to further shine. accumulate jsw steel, tata steel, nalco, jindal ispaat...etc
The Above Chart is of Metal Index. Metal Index is looking the strongest amongst all the indices in the Nifty right now. Big resistance zone is 6301 and 6360 range. Currently CNZ Metals is at 6276.35. The chart is very similar to Cup and Handle breakout. Although it is not an exactly semicircular cup and handle but the results can be similar. One candle above 6360...
Metal sector prediction...small gap in down side so it's come down and fill it...it's travel on expanding channel pattern...come down and take support and goto upside
Time to look at some options selling for rest of Feb series. Momentum has eased and unlikely to make a huge move, baring external news. War news has eased, only US Interest rate hike is currently top concern. Regards AAsta
CNXMETAL 1W: This is a sector which remained sideways during recent market correction and in return formed a flag pattern. It is also in Wave 5. Appears RSI has given BO before price and MACD is ready for +Ve crossover. ADX is indicating trend is strong. Hence, this sector has steam to post another 10-15% upside in coming few days. Accumulate on all dips to...
Metals are ready for breakout look for the stocks which follow same structure. Tata steel Jindal hisar, jindal saw
Metal index is showing good moves after budget along with Elliot wave counts. Possibly wave i & ii of 5 is completed, and possibly wave III of 5th is started. Wave Structure could be like this Macd in daily Macd in hourly Rsi in hourly Bollinger band challenged in hourly Dmi adx also positive Disclaimer I am not sebi registered analyst My studies are...
Strong breakout of channel. stocks looking very strong - 1. tatasteel
Near Previious Breakout levels If broken heavy downside
triangle pattern in metal index, metal sector in longer term is a strong sector, this triangle pattern will help u to take entry in stocks
Nifty metal is going to give a breakout can't say a postive or negative one. it is standing on a long trend line if this line is broken to a negative side the we can se a big downfall in the metal stocks. Disclaimer : This analysis is for personal improvement make sure to analyse the stock at your personal levels before investing as this analysis is not an advice...
Nifty Metal as of 07/08/2021. Weekly break out and daily closing above the long unwinding
CNX METAL INDEXIs at supporting trendline and can bounce from here . Major metals stocks to watch out for Tomorrow like - TATASTEEL, JINDALSTEEL and JSWSTEEL
👀👀 on red zone... sizeble pullback possible..🤞🤞 from that zone...