Breakout on the cards? Tata Steel, Vedanta, SAIL can rise up to 12%

The metal index is on the verge of breakout, if crosses 5,800 mark, another 6 per cent jump is very certain.

NIFTY METAL
Likely target: 6,100 (after crossing 5,800 decisively)
Upside potential: 5%

The recent correction in the overall market have also dented the metal segment, however, the index managed to hold on the most crucial support of 5,200 levels, which has been standing still since July 2021. Going forward, any up move above 5,800 may see a sharp breakout towards 6,100 levels, according to the daily chart. The candlestick formation indicates a strong positive trend in current sessions. CLICK HERE FOR THE CHART
 
TATA STEEL LTD (TATASTEEL)
Likely target: Rs 1,275
Upside potential: 10%

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