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Nifty Metal Index
Long
Updated

Monthly Swing Trade In Metal Sector

86
Sector has created a bottom and broken the structure. Will likely rally up to last month's high in this month. CNXMETAL

SL @ 4828
TGT @ 5460
Note
Setup used is the same as that of the Bank Nifty trade I had posted earlier this month. Check that out too.
Note
Trail SL near about to entry level. We will not lose money on this trade now.

I had preferred HINDALCO as it follows the metal index and it is in good M2M profit. SL @365 now.

If anyone entered in VEDL, it is weaker because last month was a strong bearish candle closing so reversal might take longer.
Trade closed: target reached
Target reached in the sector. Trailed Hindalco SL to 393 and will hold till 420 at least.
Trade closed: target reached
Exited Hindalco @422
46232eda171f4530b5d737a4d6473d
Chart PatternsTrend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsTrend Analysis
46232eda171f4530b5d737a4d6473d

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.