As Nifty is gaining bullish strength, I took the metal sector stocks to do an analysis and found a similar pattern formation. The pattern I found is a rounding bottom, which is a bullish pattern.
Among the stocks, tatasteel, JSW steel, Jindal steel and Hindalco, JSW steel is showing more strength as it has already broken the rounding bottom resistance and is moving up.
JSW steel - has support at 1120 zone and resistance at 1200 - 1220 zone.
Tatasteel support is at 160 and resistance is at the 178 - 180 zone.
Jindal steel - support is at 980 -1000 zone and resistance is at the 1100 zone.
Hindalco - support is at 720 and resistance is at 790 - 810 zone.
There is no buy or sell levels. Just an observation about the similarity in stocks.
Among the stocks, tatasteel, JSW steel, Jindal steel and Hindalco, JSW steel is showing more strength as it has already broken the rounding bottom resistance and is moving up.
JSW steel - has support at 1120 zone and resistance at 1200 - 1220 zone.
Tatasteel support is at 160 and resistance is at the 178 - 180 zone.
Jindal steel - support is at 980 -1000 zone and resistance is at the 1100 zone.
Hindalco - support is at 720 and resistance is at 790 - 810 zone.
There is no buy or sell levels. Just an observation about the similarity in stocks.
ノート
Will metals shine today during Muhuraat trading?!ノート
Metals on move...
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Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。