 "Jindal Steel, Sail, Jindal Stainless: 3 metal stocks that can slip further")
The benchmark indices are ripe for profit booking, technical charts suggest. The upward rising trend line for Nifty50 at 11,550 and BSE Sensex at 38,500 indicates profit booking and now face selling pressure. Such instances evaluate the strength and reversal in other indices as well; and the Nifty Metal is one such index that is looking to reverse its trend.
NIFTYMETAL: The Nifty Metal index faces strong resistance at its 100-days moving average (DMA), which is currently located at 3,040 levels. The overall chart formation indicates a breakdown of “Head and Shoulder pattern” below 2970 level. The two
