Home / Markets / News / Tata Steel, JSW Steel: Metal stocks poised for further upside, charts show

Tata Steel, JSW Steel: Metal stocks poised for further upside, charts show

Nifty Metal has successfully conquered the 2,500 mark and is set to move towards 200-WMA, which stands at 2,969 levels.

metals sector, lead, copper, aluminium, steel

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For Vedanta, there is a clear resistance of 100-WMA currently placed at Rs 123.50 levels, as per the daily chart.

3 min read Last Updated : Nov 23 2020 | 2:02 PM IST

Shares of most metal companies were trading in the green in the afternoon deals on Monday. In the past month, the Nifty Metal index has risen 13.5 per cent (as of Friday's close) as compared to around 8 per cent gain in the benchmark Nifty50 index, exchange data show.

According to a Business Standard report, with stimulus packages being announced across the globe amid the Covid-19 pandemic, base metals are seen benefiting from the same.

Copper, zinc, and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for

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