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Nifty Metal Index

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CNXMETAL trade ideas

RIDING THE INDIAN METAL RALLYThe Indian Metal Index (CNXMETALS) is shaping up for an exciting move! 🚀 LINK TO MY FULL REPORT - drive.google.com Through technical analysis, I’ve identified a strong inverse correlation between CNXMETALS and the Dollar Index (DXY) 📊. Historically, when DXY weakens, Indian metal stocks tend to shine. 🔥 Key Observations: ✅ CNXMETALS Technical Setup – Strong indicators suggesting bullish momentum! 🏗️💰 ✅ Stock Picks & Targets – I’ve highlighted key stocks that could benefit from this macro and technical setup! 📌💡 ✅ Dollar Index at Crucial Support – A breakdown could fuel an upward surge in Indian metal stocks! 📉➡️📈 ✅ Global Macro Trends – A quick dive into the global metal sector & its impact on Indian markets 🌍🔎 Metals are heating up, and the charts are telling a compelling story! Are you tracking this trend? Let’s discuss in the comments! ⬇️💬
NSE:CNXMETALLong
by ogkrishnav
1
Index to watch out for next week is Metal Index. The index that did very well this week and which has potential to carry forward the momentum into the next week seems to be the Metal index if it can cross 2 major hurdles at 8941 and 9227. Currently the closing of CNX Metal Index is at 8926.90. In the coming weeks if we get a closing above 8941 and eventually above 9227 the index has a potential to go north wards towards 9453, 9828 or even 10K plus levels if the rally in Nifty and the one we are seeing in the Metal index sustain. Metal index this week gave a closing above Mother line of 50 weeks EMA which is at 8750. RSI of the Metal index has also entered a bullish looking territory. The significance of Mother and Father lines, Parallel Channels, RSI can be learned by reading my past articles or by reading my Book The Happy Candles Way To Wealth Creation which is available on Amazon or can be availed by contacting me. The book is one of the highest rated books on Amazon in it's category. Now if this breakout actually happens in the Metal Index the stocks that composit the metal index will be the beneficiary in general. Some might benefit more some might benefit less and some might not benefit but for index to move upward the stocks composing it have to perform well. To know which stocks will do better than others we will have to look at their individual charts. The stocks which make the metal index are Welspun Corp, Hindalco, Nalco, Hindustan Zinc, Tata Steel, Vedanta, Sail, NMDC, hindustan Copper, Jindal Steel, JSW Steel, Jindal Stainless, Apl Apollo Tubes, Ratnamani Metals, Adani Enterprise. Thus it is obvious some of these stocks have potential to benefit if index does well. Choose wisely after consulting your investment advisor, studying fundamentals and Technicals of each company. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:CNXMETALLong
by Happy_Candles_Investment
Nifty Metal | A Sector to watch out for in this falling market.Nifty 50 and it's major indices are falling and the correction is expected to continue over the next few weeks. However, there is one sector which looks resilient and that is the Metal Space. While the sentiment may not be super Bullish, as per my analysis, we can expect this space to consolidate over the next couple of months and then give a Bullish move. As you can see from the chart, the sector is consolidating and not in a vertical decline like the other sectors. So watch out for this space. In fact, Heavyweights like Hindalco and TATA Steel are already showing Bullish momentum.
NSE:CNXMETAL
by Sky_Tracer
Nifty Metal: An overviewThis is a quick one. The chart should tell you everything there is to know. We will keep updating the comments below as the price action unfolds. Have Requests, Questions, or Suggestions? Let us know in the comments below.👇 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:CNXMETAL
by TheChartereds
CNXMETAL - Just a View📈Keep an eye on Nifty Metals Index . 📈On 13th Feb Index has formed hammer candle which indicates trend reversal. 📈Metal index has taken support on trendline as shown into chart and started moving upwards. 📈Index has made triple top and triple bottom pattern on daily chat. We may see bullishness till 8348 level. 📈Stocks to watch into Metal Sector are as follow: - 📊 Script: SAIL ⏱️ C.M.P 📑💰- 125 🟢 Target 🎯🏆 - 142-150 📊 Script: TATASTEEL ⏱️ C.M.P 📑💰- 141 🟢 Target 🎯🏆 - 147 📊 Script: JSL ⏱️ C.M.P 📑💰- 599 🟢 Target 🎯🏆 - 615
NSE:CNXMETALLong
by radha_23
1