CNXMETAL trade ideas
Nifty Metal Preparing.Nifty Metal is Preparing for big blast after long down trend. Just wait for 2520 level breakout. This will be the confirmation to blast. Jswsteel has already breaked out and tatasteel and other Metal stocks preparing itself.
Nifty Metal good opportunityAfter analyzing the sectorial data points, I feel its worth looking at this metal sector stocks for long side.. Strong stocks should be aimed at to go Demat long....
Short Nifty Metal stocks below supportNifty Metal is in downtrend chanel and below support will give a good shorting opportunity
Time Frame 2-4 weeks
NIFTY Metal IndexI has been trading in a rising wedge.
Breakout on either side can give a good momentum.
Today's candle looks like a hammer at trendline support.
CAUTION !! Short Term Investors in Metals !! We saw good rally in metals(Tatasteel,jswsteel,jindalsteel,Sail), these many days.
Fresh Investors Ignore Metals as of now.
Now It's in overbought zone, Will it sustain or we can see a big dip in All Metals.
Also looks like completion of Elliott's 5 wave - .
Go through my profile in.tradingview.com for all metals analysis done.
OPPORTUNITY IN METAL!!NIFTY METAL is forming a downtrend since jan 2018
Now it has gained tremendously toward the resistance its breakout may result long opportunity for trader
If 2244 breakdown then there will be shorting opportunity.
AS DUE TO COVID COMPANIES AND BANKS ARE STRUGGLING METALS ARE PERFORMING TREMENDOUSLY AND THERE WILL BE GROWTH IN THIS SECTOR UNTILL THE COVID END.
NIFTY METALFOR REFERENCE - READY FOR UPMOVE
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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Nifty Metal - May reach 2200 levels - BullishNSE:CNXMETAL may reach 2200 levels in the coming days.
There it might face resistance, from fib's 50% retracement level confluencing previous S&R levels.
CNX MetalBreakout expected, mostly on upside as per expectations as Industrial work is gearing up and lockdown seems to be easing.
Metals can outperform here on, a personal view.
Bullish AB=CD Pattern in daily chart of Nifty Metal IndexBullish AB=CD Pattern in daily chart of Nifty Metal Index
NIFTY METAL CNXMETALNIFTY METAL CNXMETAL - Moving up since 2016 with Negative divergence. Stay in party but near door, correction due on this index
#NIFTY METALSREVERSED FROM RESISTANCE ZONE 3145
ALSO GAVE FOLLOW UP TO BEARISH CANDLE
NEXT TO WATCH TL AND SUPPORT AT 3075 ZONE
BELOW THAT CAN TEST 3040-3000
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.
