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Nifty Metal Index

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CNXMETAL trade ideas

NIFTY METAL - Bearish zoneNIFTY METAL - Bearish zone 1. It breaks the 1st support zone 4830 on the downside this week. 2. In a bear trap, the next support will be at 4490, and 4200 respectively. 3. Till it gets support most of the metal sector will be in a downtrend in upcoming weeks. 4. Example: TATA Steel will be on a more downtrend in upcoming weeks. Note: 1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only. 2. Always check with your financial advisor and take the trade as per your risk/reward ratio. 3. Follow me for more patterns and like, and share so that we feel it is helpful to many and share more patterns...
NSE:CNXMETALShort
by ravi15684
2
Nifty Metal Trend AnalysisWeekly 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 because of export duty hike on steel (15% on steel & 50% on iron ore). If you check the fundamentals, most of the stocks have reported highest ever net profits for the last FY making these stocks highly undervalued as per their PE and BV. If broadening wedge pattern forms and it breaks upside, then the resistance will be around 10500 level and the support will be around 3300 level if breaks downside. Will see what plays out. Kindly do your own due diligence before taking any action. Peace!!
NSE:CNXMETALLong
by Swastik24
Metals looking strong here. The Above Chart is of Metal Index. Metal Index is looking the strongest amongst all the indices in the Nifty right now. Big resistance zone is 6301 and 6360 range. Currently CNZ Metals is at 6276.35. The chart is very similar to Cup and Handle breakout. Although it is not an exactly semicircular cup and handle but the results can be similar. One candle above 6360 and there can be another big, bold and strong rally in metals in the near future.
NSE:CNXMETALLong
by Happy_Candles_Investment
1