Possible way out and levels for cnx metalPossibly nifty metal index is following this trend and next levels are way higher in near future.
It’s just an analysis and can be not perfect or correct so please take it just as a possibility.
CNXMETAL trade ideas
TRADE SETUP_15% upside in Nifty MetalThe Nifty Metal index is all set to climb up towards 7200 in wave V of 3.
At the current levels it provides an excellent entry with really impressive RR.
6400 is the support
6270 SL
Metal Index is on the verge of breakout Metal Index is showing strength, but all metal stocks are not participating. Index may breakout in coming days. Chart is self-explanatory. Market is in corrective/sideways mode so one should wait for complete confirmation before entering trade.
Metals: shine one!A close above 6286 is required to complete this break out, targets are horizontal lines on chart, this may be a very nice rally for metals
CNX MetalCNX Metal 6116
There is possible wave counts
as well as WW developed...
Below red line...
I am expecting price towards Purple line...
Chart is for study purpose only!!
Vedang :)
NIFTY MetalIt is at good support level. Already tested many time. Resistance is also tested many times. Break of any of the level can give good opportunities.
Metals: Shine on!The RSI divergence and the minor BO shows that the this index can at least go till 5990.
Bearish for the next 2-3 monthsFeb is closing with a big red candle.
Looks like another 700-800 points fall in this Index is inevitable.
This is going to come down to the support line.
On a daily chart there are gaps at 5330-40 and 5020-30, where the first gap is already filled and waiting for the second gap to be filled.
CNXMETAL possible continuation towards the downsideCNXMETAL retracing after downtrend. Look for short entries in peers. Intraday only since the daily support is still intact.
Jindal Drilling - Potential Rise - LongThe stock has corrected and has reversed its trend from its 200 EMA and 61.5% Fibonacci levels.
It has already crossed 50 EMA and is taking support at it.
The Nifty Metal index is also at its support zone.
As soon as the Metal Index breaks out, jindal Drilling is a high potential for commencing its rise fro here.
Breaking outMetal 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.
Metals: Time to shine?Beautiful cup an handle, BO is already there, retest too looks completed. 1st target will be 6700, next we are eyeing 7100 and if the market stays in right mood, medium term target is 9000.
NIFTY-- METALPRICE MOMENT FOR THE WEEK .
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
Nifty Metal on verge of break outLooks good for the next leg of the run. 6340 is the resistance level to look for.
6786 could be the first target. RSI levels levels are on the rise.
Metal/steel industry index analysis The metal industries perfectly break the resistance in weekly chart.
The CMP- 6324.15
The target price is - 6757.35
Focus all metal stock (Tata steel, sail, hindalco, JSW Steel)
Metals: can forge money?A close above 6345 tells us that we are not right path, it will give us great momemntum. Min 52 weeks highs are expected with a small pause at 6415.
NIFTY METAL - Just a viewKey highlights: 💡⚡
📊 Currently CNXMETAL trading at level 6027 and 6019 is its support level which is also cup & handle neckline which may work as support line.
📊 If it is breaking support level one can go for SHORT into METAL sector.
IF SUPPORT LEVEL IS BREAK THEN ONLY GO FOR SHORT TRADE.
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Metal index looks positive!!!Metal index looks positive. Positive above 6264. Formed cup and handle breakout
CNXMETAL - WEEKLY VIEWThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves).
Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
CNXMETAL - RESISTANCE BREAKOUT METAL Sector has given breakout.
Previous Resistance is now Work as Support.
We may see Rally of 5-6% in next trading days.
Keep an eye on volatile Metal stocks
eg. HINDCOPPER , HINDALCO , TATASTEEL , VEDANTA ETC
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Monthly Swing Trade In Metal SectorSector has created a bottom and broken the structure. Will likely rally up to last month's high in this month. NSE:CNXMETAL
SL @ 4828
TGT @ 5460
