NIFTY METAL Looks Positive - (BUY)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 monthly chart and increase in volume of buying.
4. Additionally, there is a RSI divergence on the monthly chart,
It is a good time to buy into metal shares like Tata Steel and JSW Steel, they soon be making new all time highs.
JSWSTEEL
JSW STEEL UPTREND CONTINUES WITH BREAK OUT It has confirmed a long breakout, looking forward to another high green candlestick tomorrow as there high demand of buyers in the market for the same.
It is been in a great upward move for past few months and now it seems it may continue for much longer period.
JSW Steel: Another Promising CandidatePrice consolidating within an uptrend. Expecting the uptrend to resume soon. Another stock in the watchlist. Look to add this in the portfolio !
JSW STEEL Confirms Bearish HEAD & SHOULDER PATTERN
Points noted on Daily Chart,
1. Head & Shoulder Pattern completion with confirmation of high volume selling at previous resistance level.
2. Double Top with Bearish Divergence in RSI
3. Risk & Reward ratio at great deal
In my opinion, this one is a short for now.
