It seems Wave 4 correction might be over here and the index might be heading for Wave 5
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Keep selling metals on rise............. expect 8% -15% more downfall expected........ Investors will get at better value..... Please click the like button for more such insights........ Ek like to banta hia na...........
This chart analysis shows a bullish sign in near future in Nifty Metal Sector
Nifty metal made a support zone, some upward movement expected # hindalco made same to same pattern following of nifty metal I think metal sector goes upside from 5000 level As well as hindalco confirmed follow the sector trend. Buy hindalco 379-380
Metal Index - Looking very strong to cross its ATH. It is 18% away now. Monthly RSI above 60. DISC: Not a SEBI Registered. I post charts for my own study.
Nifty metal index in wave iv of 3 and would probably move up after this leg in v of 3, where 3=1
nifty metal index is on fibo level of .618. which is considered a good reversal level. market seems bullish by seeing budget . keep eyes on metals .
Don't get easily fooled by the positive news for metal stocks post budget, here is the weekly chart of Nifty metal! Sideways action since the initiation of the index! Now if you are good at catching tops n and bottoms of the market you can go ahead and trade it, but even Hedge fund managers have a tough time doing this so good luck 😉
Nifty Metal is Preparing for big blast after long down trend. Just wait for 2520 level breakout. This will be the confirmation to blast. Jswsteel has already breaked out and tatasteel and other Metal stocks preparing itself.
After analyzing the sectorial data points, I feel its worth looking at this metal sector stocks for long side.. Strong stocks should be aimed at to go Demat long....
Nifty Metal is in downtrend chanel and below support will give a good shorting opportunity Time Frame 2-4 weeks
I has been trading in a rising wedge. Breakout on either side can give a good momentum. Today's candle looks like a hammer at trendline support.
We saw good rally in metals(Tatasteel,jswsteel,jindalsteel,Sail), these many days. Fresh Investors Ignore Metals as of now. Now It's in overbought zone, Will it sustain or we can see a big dip in All Metals. Also looks like completion of Elliott's 5 wave - . Go through my profile in.tradingview.com for all metals analysis done.