NIFTY METAL: THE PARTY IN METAL STOCKS HAS JUST BEGUN
Metal rally is not over it is a temporary blip.
Reasons why the rally in metal stocks may not end so soon:
1) As there is a strong demand for metals, the supply chain is not yet fully in place and there is an expectation of a super cycle, the party in metal stocks has just begun.
2) The global economic data is very strong. Once the second wave is over, then India’s recovery would also be strong. Eventually, we will see the market following global trends.
3) Chart looks very promising to me. Look at 20 DMA, it is acting as a major support. RSI is forming a higher base,which is a sign of big bullish momentum. Rest is self-explanatory.
Not everyone is equally bearish on the metal stocks. I believe the correction in prices is temporary and will not last.
My favorite picks: TATA STEEL, SAIL, JSW STEEL, & JINDAL STEEL.
Reasons why the rally in metal stocks may not end so soon:
1) As there is a strong demand for metals, the supply chain is not yet fully in place and there is an expectation of a super cycle, the party in metal stocks has just begun.
2) The global economic data is very strong. Once the second wave is over, then India’s recovery would also be strong. Eventually, we will see the market following global trends.
3) Chart looks very promising to me. Look at 20 DMA, it is acting as a major support. RSI is forming a higher base,which is a sign of big bullish momentum. Rest is self-explanatory.
Not everyone is equally bearish on the metal stocks. I believe the correction in prices is temporary and will not last.
My favorite picks: TATA STEEL, SAIL, JSW STEEL, & JINDAL STEEL.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.