NIFTY METAL is forming a downtrend since jan 2018
Now it has gained tremendously toward the resistance its breakout may result long opportunity for trader
If 2244 breakdown then there will be shorting opportunity.
AS DUE TO COVID COMPANIES AND BANKS ARE STRUGGLING METALS ARE PERFORMING TREMENDOUSLY AND THERE WILL BE GROWTH IN THIS SECTOR UNTILL THE COVID END.
FOR REFERENCE - READY FOR UPMOVE
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I have started putting these charts as a contribution from my side to all people who are new to business, as I had to...
NSE:CNXMETAL may reach 2200 levels in the coming days.
There it might face resistance, from fib's 50% retracement level confluencing previous S&R levels.
Breakout expected, mostly on upside as per expectations as Industrial work is gearing up and lockdown seems to be easing.
Metals can outperform here on, a personal view.
According to its monthly chart, the index has made all time low of 1500 in the month of Feb 16 and from then it responded well and positive.
I believe it will continue its positive trend due to below top 3 reasons,
1. Globally Metals are positive
2. Metal Stocks like JSW Steel and Tata Steel have been moving positively
3. Structure support confirmation on...
