At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red
The Nifty Metal Index has been experiencing a downward trend in the near term, as indicated by the recent sharp correction.
The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.
Metal stock surged after China lowered the mortgage rate. At around 9:28 AM, Nifty Metal was up 1.23 per cent at 10,188.3
Metal stocks rallied in India on Tuesday morning, after the People's Bank of China (PBOC) lowered the 14 day reverse repo rate by 10 bps
The Nifty FMCG Index is demonstrating a bullish trend in the near term, as indicated by its recent upward movements on the charts.
For context, the record highs for Sensex and Nifty50 are 81,587.76 and 24,854.80 levels, respectively.
The Nifty Metal Index is currently in a phase of consolidation, trading within a narrow range of 300 points, specifically between 9,700 and 10,000
The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25
The run-up in the stock prices of metal companies, analysts said, has largely been driven by tighter supplies in the global markets, coupled with hopes of improving demand, especially in China
The Nifty Metal index has gained 6% in the last 3 days outperforming the benchmark Nifty. Here's a technical outlook on SAIL, Tata Steel, JSW Steel and Jindal Steel.
Adani Enterprises, Vedanta, Hindustan Copper, Hindustan Zinc, NMDC, and Nalco were trading higher in the range of 0.2 per cent to 2 per cent
According to Ravi Nathani, an independent technical analyst, technical indicators such as RSI and MACD are signaling potential for a technical pullback in the near term on the Nifty FMCG index.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG exudes a bullish short-term trend; while the Metal and Realty indices suggests a sell strategy.
The advised strategy for the Nifty Metal index is to buy near support levels and sell near resistance
Ravi Nathani, an independent technical analyst, recommends initiating short positions on rise on the Nifty metal index with a stop at 6,550.
The world's second-largest economy consumes almost half of the global metals supply. As a result, China's economic outlook has a huge bearing on metal prices
According to Ravi Nathani, an independent technical analyst, one can consider to sell the Nifty IT and Metal indices near resistance levels.
The Nifty FMCG can potentially rally nearly 2 per cent from current levels, to near about 53,625, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, Nifty Pharma index is oscillating between 15,450 and 15,000; whereas, the Metal index is moving in a range of 6,900 to 6,600.