In the past six months, the Nifty Metal index has underperformed the market by falling 6 per cent as against a 4 per cent decline in the benchmark index
Technical chart shows that Nifty Metal has a strong support base around the 8,000-mark; In case, the index violates the same it can slide another 15 per cent from present levels.
Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday
The Nifty Metal index was seen testing the 100-WMA (Weekly Moving Average) support for the third time in the last 4 weeks. Similarly metal stocks too are testing long-term supports; check levels here.
Adani Energy Solutions, Syngene, Jio Financial, CG Power, Persistent Systems and CAMS are the 6 derivative stocks with up to 14 per cent build-up in open positions 5 days ahead of the monthly expiry.
The Nifty Pharma Index is witnessing a bearish trend in the near term, with strong support anticipated in the range of 21,825 to 21,700
Stock Market Today: The best trading strategy at this juncture is to book profits on the rise in Nifty IT index and wait for the index to retrace towards its support levels
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.