NIFTYMETAL/NIFTY relative strength chart is getting a bullish support as the price is pushing out of the triangle resistance zone. The 200DMA (green line) is supporting the bullish price action. Further, the price is retracing from the 38.2 Fib zone of the bigger range. We are bullish on the Nifty metal index in the coming weeks with target at the top of the range. Bullish thesis negated on closing below 200DMA.
