Metal stocks showing strength in last couple of days. Index sustaining above the resistance level after breakout. The rally may further extend, keep metal stocks in radar.
📊 Script: JINDALSTEL (JINDAL STEEL & POWER LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY 500, NIFTY METAL, NIFTY MIDCAP 📊 Sector: Commodities, Metals & Mining 📊 Industry: Ferrous Metals, Iron & Steel Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover . 📈 Already Crossover in...
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...
Price formed a double top pattern at major resistance level (on monthly charts). At retest of the support, price has formed a Gravestone Doji followed by Bearish Engulfing (on daily charts) both of which are negative signals. Since past 2 years corrections have been triggered from the month of January, again this cycle may be repeated