Tag Archives: Nifty Metal Prediction

Nifty Metal Outlook for the Week (Dec 18, 2017 – Dec 22, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Dec 18, 2017 – Dec 22, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 0.60%.

As we have mentioned last week, that resistance for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3900 to 3950 from where the index broke down after consolidation. During the week the index manages to hit a high of 3699 and close the week around the levels of 3666.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3400 where the index has formed a bottom in the month of September-2017.

Resistance for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3900 to 3950 from where the index broke down after consolidation.

Broad range for the index is seen between 3500 to 3550 on downside & 3800 to 3850 on upside.

Nifty Metal Outlook for the Week (Dec 11, 2017 – Dec 15, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Dec 11, 2017 – Dec 15, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 0.70%.

As we have mentioned last week, that support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3400 where the index has formed a bottom in the month of September-2017. During the week the index manages to hit a low of 3521 and close the week around the levels of 3643.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3400 where the index has formed a bottom in the month of September-2017.

Resistance for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3900 to 3950 from where the index broke down after consolidation.

Broad range for the index is seen between 3400 to 3450 on downside & 3800 to 3850 on upside.

Nifty Metal Outlook for the Week (Dec 04, 2017 – Dec 08, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Dec 04, 2017 – Dec 08, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 3.90%.

As we have mentioned last week, that support for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying. During the week the index manages to hit a low of 3610 and close the week around the levels of 3618.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3400 where the index has formed a bottom in the month of September-2017.

Resistance for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3900 to 3950 from where the index broke down after consolidation.

Broad range for the index is seen between 3350 to 3400 on downside & 3800 to 3850 on upside.

Nifty Metal Outlook for the Week (Nov 27, 2017 – Dec 01, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Nov 27, 2017 – Dec 01, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on absolutely flat note.

As we have mentioned last week, that minor resistance for the index lies in the zone of 3800 to 3830. Resistance for the index lies in the zone of 3900 to 3950 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 4050 to 4100. During the week the index manages to hit a high of 3855 and close the week around the levels of 3766.

Support for the index lies in the zone of 3700 to 3750 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 3800 to 3830. Resistance for the index lies in the zone of 3900 to 3950 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 4050 to 4100.

Broad range for the index is seen between 3600 to 3650 on downside & 4000 to 4050 on upside.

Nifty Metal Outlook for the Week (Nov 20, 2017 – Nov 24, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Nov 20, 2017 – Nov 24, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 2.50%.

As we have mentioned last week, that minor support for the index lies in the zone of 3800 to 3830. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying. During the week the index manages to hit a low of 3641 and close the week around the levels of 3768.

Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 3800 to 3830. Resistance for the index lies in the zone of 3900 to 3950 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 4050 to 4100.

Broad range for the index is seen between 3600 to 3650 on downside & 4000 to 4050 on upside.

Nifty Metal Outlook for the Week (Nov 13, 2017 – Nov 17, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Nov 13, 2017 – Nov 17, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 1.80%.

As we have mentioned last week, that minor support for the index lies in the zone of 3840 to 3870. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying. During the week the index manages to hit a low of 3802 and close the week around the levels of 3866.

Minor support for the index lies in the zone of 3800 to 3830. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3900 to 3950 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 4050 to 4100.

Broad range for the index is seen between 3700 to 3750 on downside & 4100 to 4150 on upside.

Nifty Metal Outlook for the Week (Nov 06, 2017 – Nov 10, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Nov 06, 2017 – Nov 10, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 0.20%.

As we have mentioned last week, that minor support for the index lies in the zone of 3800 to 3850. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying. During the week the index manages to hit a low of 3854 and close the week around the levels of 3938.

Minor support for the index lies in the zone of 3840 to 3870. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3950 to 4000. If the index manages to close above these levels then the index can move to the levels of 4100 to 4150.

Broad range for the index is seen between 3700 to 3750 on downside & 4100 to 4150 on upside.

Nifty Metal Outlook for the Week (Oct 30, 2017 – Nov 03, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Oct 30, 2017 – Nov 03, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.30%.

As we have mentioned last week, that resistance for the index lies in the zone of 3850 to 3870. If the index manages to close above these levels then the index can move to the levels of 3920 to 3950. During the week the index manages to hit a high of 3982 and close the week around the levels of 3945.

Minor support for the index lies in the zone of 3800 to 3850. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3920 to 3950. If the index manages to close above these levels then the index can move to the levels of 4100 to 4150.

Broad range for the index is seen between 3700 to 3750 on downside & 4100 to 4150 on upside.

Nifty Metal Outlook for the Week (Oct 23, 2017 – Oct 27, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Oct 23, 2017 – Oct 27, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 0.90%.

As we have mentioned last week, that resistance for the index lies in the zone of 3770 to 3800. If the index manages to close above these levels then the index can move to the levels of 3850 to 3870. During the week the index manages to hit a high of 3885 and close the week around the levels of 3820.

Minor support for the index lies in the zone of 3750 to 3770. Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3850 to 3870. If the index manages to close above these levels then the index can move to the levels of 3920 to 3950.

Broad range for the index is seen between 3650 to 3670 on downside & 3950 to 3970 on upside.

Nifty Metal Outlook for the Week (Oct 16, 2017 – Oct 19, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Oct 16, 2017 – Oct 19, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that resistance for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 3770 to 3800. During the week the index manages to hit a high of 3808 and close the week around the levels of 3784.

Support for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 3550 to 3600 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3770 to 3800. If the index manages to close above these levels then the index can move to the levels of 3850 to 3870.

Broad range for the index is seen between 3650 to 3670 on downside & 3850 to 3870 on upside.

Nifty Metal Outlook for the Week (Oct 09, 2017 – Oct 13, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Oct 09, 2017 – Oct 13, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 4.50%.

As we have mentioned last week, that resistance for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 3650 to 3700 where trend-line joining earlier highs is lying. During the week the index manages to hit a high of 3720 and close the week around the levels of 3711.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3420 to 3450 from where the index broke out of double top pattern and short term moving averages are lying.

Resistance for the index lies in the zone of 3680 to 3720 where trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 3770 to 3800.

Broad range for the index is seen between 3500 to 3550 on downside & 3800 to 3850 on upside.

Nifty Metal Outlook for the Week (Oct 03, 2017 – Oct 06, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Oct 03, 2017 – Oct 06, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that resistance for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 3650 to 3700 where trend-line joining earlier highs is lying. During the week the index manages to hit a high of 3570 and close the week around the levels of 3550.

Support for the index lies in the zone of 3420 to 3450 from where the index broke out of double top pattern and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3200 to 3230 from where the index broke out of March-2017 highs.

Resistance for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 3650 to 3700 where trend-line joining earlier highs is lying.

Broad range for the index is seen between 3300 to 3350 on downside & 3700 to 3750 on upside.

Nifty Metal Outlook for the Week (Sep 25, 2017 – Sep 29, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Sep 25, 2017 – Sep 29, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 4.70%.

As we have mentioned last week, that support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3450 to 3500 from where the index broke out of double top pattern. During the week the index manages to hit a low of 3479 and close the week around the levels of 3492.

Support for the index lies in the zone of 3410 to 3440 from where the index broke out of double top pattern and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 3200 to 3230 from where the index broke out of March-2017 highs.

Resistance for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 3650 to 3700 where trend-line joining earlier highs is lying.

Broad range for the index is seen between 3200 to 3250 on downside & 3700 to 3750 on upside.

Nifty Metal Outlook for the Week (Sep 18, 2017 – Sep 22, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Sep 18, 2017 – Sep 22, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the index lies in the zone of 3650 to 3700 where trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 3750 to 3770. During the week the index manages to hit a high of 3739 and close the week around the levels of 3663.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3450 to 3500 from where the index broke out of double top pattern.

Resistance for the index lies in the zone of 3650 to 3700 where trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 3750 to 3770.

Broad range for the index is seen between 3450 to 3500 on downside & 3750 to 3800 on upside.

Nifty Metal Outlook for the Week (Sep 11, 2017 – Sep 15, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Sep 11, 2017 – Sep 15, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that support for the index lies in the zone of 3450 to 3460 from where the index has broken out of double top pattern. If the index manages to close below these levels then the index can drift to the levels of 3320 to 3350 where the index has taken multiple support. During the week the index manages to hit a low of 3486 and close the week around the levels of 3653.

Support for the index lies in the zone of 3550 to 3600 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 3450 to 3500 from where the index broke out of double top pattern.

Resistance for the index lies in the zone of 3650 to 3700 where trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 3750 to 3770.

Broad range for the index is seen between 3450 to 3500 on downside & 3750 to 3800 on upside.

Nifty Metal Outlook for the Week (Sep 04, 2017 – Sep 08, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Sep 04, 2017 – Sep 08, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.80%.

As we have mentioned last week, that resistance for the index lies in the zone of 3450 to 3460 where the index has formed a double top pattern. If the index manages to close above these levels then the index can move to the levels of 3520 to 3550 where the index has formed a life time high. During the week the index manages to hit a high of 3545 and close the week around the levels of 3542.

Support for the index lies in the zone of 3450 to 3460 from where the index has broken out of double top pattern. If the index manages to close below these levels then the index can drift to the levels of 3320 to 3350 where the index has taken multiple support.

Resistance for the index lies in the zone of 3520 to 3550 where the index has formed a life time high. If the index manages to close above these levels then the index can move to the levels of 3600 to 3650.

Broad range for the index is seen between 3320 to 3380 on downside & 3650 to 3700 on upside.

Nifty Metal Outlook for the Week (Aug 28, 2017 – Sep 01, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Aug 28, 2017 – Sep 01, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 0.90%.

As we have mentioned last week, that minor support for the index lies in the zone of 3300 to 3330. Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3060 to 3100 where break out levels for the index is lying and short term moving averages are lying. During the week the index manages to hit a low of 3328 and close the week around the levels of 3414.

Minor support for the index lies in the zone of 3340 to 3370. Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3060 to 3100 where break out levels for the index is lying and short term moving averages are lying.

Resistance for the index lies in the zone of 3450 to 3460 where the index has formed a double top pattern. If the index manages to close above these levels then the index can move to the levels of 3520 to 3550 where the index has formed a life time high.

Broad range for the index is seen between 3280 to 3320 on downside & 3530 to 3550 on upside.

Nifty Metal Outlook for the Week (Aug 21, 2017 – Aug 25, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Aug 21, 2017 – Aug 25, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 5.20%.

As we have mentioned last week, that support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3060 to 3100 where break out levels for the index is lying and short term moving averages are lying. During the week the index manages to hit a low of 3251 and close the week around the levels of 3385.

Minor support for the index lies in the zone of 3300 to 3330. Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3060 to 3100 where break out levels for the index is lying and short term moving averages are lying.

Resistance for the index lies in the zone of 3450 to 3460 where the index has formed a double top pattern. If the index manages to close above these levels then the index can move to the levels of 3520 to 3550 where the index has formed a life time high.

Broad range for the index is seen between 3250 to 3280 on downside & 3500 to 3550 on upside.

Nifty Metal Outlook for the Week (Aug 14, 2017 – Aug 18, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Aug 14, 2017 – Aug 18, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 2.60%.

As we have mentioned last week, that minor support for the index lies in the zone of 3250 to 3270. Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3050 to 3100 where break out levels for the index is lying and short term moving averages are lying. During the week the index manages to hit a low of 3194 and close the week around the levels of 3217.

Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3060 to 3100 where break out levels for the index is lying and short term moving averages are lying.

Resistance for the index lies in the zone of 3300 to 3330. If the index manages to close above these levels then the index can move to the levels of 3400 to 3450 where the index has formed a short term top.

Broad range for the index is seen between 3050 to 3100 on downside & 3400 to 3450 on upside.

Nifty Metal Outlook for the Week (Aug 07, 2017 – Aug 11, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (Aug 07, 2017 – Aug 11, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that resistance for the index lies in the zone of 3200 to 3230 where the index has formed a top in the month of March-2017. If the index manages to close above these levels then the index can move to the levels of 3300 to 3325. During the week the index manages to hit a high of 3310 and close the week around the levels of 3302.

Minor support for the index lies in the zone of 3250 to 3270. Support for the index lies in the zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 3050 to 3100 where break out levels for the index is lying and short term moving averages are lying.

Resistance for the index lies in the zone of 3330 to 3350. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where life time highs for the index is lying.

Broad range for the index is seen between 3200 to 3230 on downside & 3400 to 3450 on upside.

Nifty Metal Outlook for the Week (July 31, 2017 – Aug 04, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (July 31, 2017 – Aug 04, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the index lies in the zone of 3200 to 3230 where the index has formed a top in the month of March-2017. If the index manages to close above these levels then the index can move to the levels of 3300 to 3325. During the week the index manages to hit a high of 3298 and close the week around the levels of 3207.

Minor support for the index lies in the zone of 3150 to 3170. Support for the index lies in the zone of 3050 to 3070 from where the index broke out of May-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 2920 to 2950 from where the index has opened gap up.

Resistance for the index lies in the zone of 3200 to 3230 where the index has formed a top in the month of March-2017. If the index manages to close above these levels then the index can move to the levels of 3300 to 3325.

Broad range for the index is seen between 3100 to 3130 on downside & 3300 to 3330 on upside.

Nifty Metal Outlook for the Week (July 24, 2017 – July 28, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (July 24, 2017 – July 28, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that resistance for the index lies in the zone of 3100 to 3150 from where the index has broken down in the month of March-2017 and April-2017. If the index manages to close above these levels then the index can move to the levels of 3200 to 3230 where the index has formed a top in the month of March-2017. During the week the index manages to hit a high of 3232 and close the week around the levels of 3203.

Minor support for the index lies in the zone of 3150 to 3170. Support for the index lies in the zone of 3050 to 3070 from where the index broke out of May-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 2920 to 2950 from where the index has opened gap up.

Resistance for the index lies in the zone of 3200 to 3230 where the index has formed a top in the month of March-2017. If the index manages to close above these levels then the index can move to the levels of 3300 to 3325.

Broad range for the index is seen between 3100 to 3130 on downside & 3300 to 3330 on upside.

Nifty Metal Outlook for the Week (July 17, 2017 – July 21, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (July 17, 2017 – July 21, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that resistance for the index lies in the zone of 3100 to 3150 from where the index has broken down in the month of March-2017 and April-2017. If the index manages to close above these levels then the index can move to the levels of 3200 to 3230 where the index has formed a top in the month of March-2017. During the week the index manages to hit a high of 3164 and close the week around the levels of 3140.

Minor support for the index lies in the zone of 3080 to 3100. Support for the index lies in the zone of 3030 to 3050 from where the index broke out of May-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 2920 to 2950 from where the index has opened gap up.

Resistance for the index lies in the zone of 3100 to 3150 from where the index has broken down in the month of March-2017 and April-2017. If the index manages to close above these levels then the index can move to the levels of 3200 to 3230 where the index has formed a top in the month of March-2017.

Broad range for the index is seen between 3000 to 3030 on downside & 3230 to 3250 on upside.

Nifty Metal Outlook for the Week (July 10, 2017 – July 14, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (July 10, 2017 – July 14, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 3020 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017. During the week the index manages to hit a high of 3109 and close the week around the levels of 3088.

Minor support for the index lies in the zone of 3020 to 3050. Support for the index lies in the zone of 2920 to 2950 from where the index has opened gap up. If the index manages to close below these levels then the index can drift to the levels of 2830 to 2850 where the index has taken multiple support and 200 Daily moving averages.

Resistance for the index lies in the zone of 3100 to 3150 from where the index has broken down in the month of March-2017 and April-2017. If the index manages to close above these levels then the index can move to the levels of 3200 to 3230 where the index has formed a top in the month of March-2017.

Broad range for the index is seen between 2800 to 2850 on downside & 3170 to 3200 on upside.

Nifty Metal Outlook for the Week (July 03, 2017 – July 07, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (July 03, 2017 – July 07, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.40%.

As we have mentioned last week that minor resistance for the index lies in the zone of 2920 to 2950. Resistance for the index lies in the zone of 3020 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017. During the week the index manages to hit a high of 3011 and close the week around the levels of 2991.

Minor support for the index lies in the zone of 2930 to 2950. Support for the index lies in the zone of 2830 to 2850 where the index has taken multiple support and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3020 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2850 to 2900 on downside & 3070 to 3100 on upside.

Nifty Metal Outlook for the Week (June 27, 2017 – June 30, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (June 27, 2017 – June 30, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 1.30%.

As we have mentioned last week that minor support for the index lies in the zone of 2880 to 2900. Support for the index lies in the zone of 2830 to 2850 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying. During the week the index manages to hit a low of 2857 and close the week around the levels of 2892.

Minor support for the index lies in the zone of 2880 to 2900. Support for the index lies in the zone of 2830 to 2850 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 2920 to 2950. Resistance for the index lies in the zone of 3020 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2750 to 2780 on downside & 3000 to 3030 on upside.

Nifty Metal Outlook for the Week (June 19, 2017 – June 23, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (June 19, 2017 – June 23, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 2.20%.

As we have mentioned last week that resistance for the index lies in the zone of 3030 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017. During the week the index manages to hit a high of 3022 and close the week around the levels of 2931.

Minor support for the index lies in the zone of 2880 to 2900. Support for the index lies in the zone of 2830 to 2850 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 2950 to 2970. Resistance for the index lies in the zone of 3030 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2800 to 2830 on downside & 3000 to 3030 on upside.

Nifty Metal Outlook for the Week (June 12, 2017 – June 16, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (June 12, 2017 – June 16, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.50%.

As we have mentioned last week that minor support for the index lies in the zone of 2900 to 2930. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying. During the week the index manages to hit a low of 2888 and close the week around the levels of 2998.

Minor support for the index lies in the zone of 2920 to 2940. Support for the index lies in the zone of 2830 to 2850 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 3030 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2900 to 2930 on downside & 3080 to 3100 on upside.

Nifty Metal Outlook for the Week (June 05, 2017 – June 09, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (June 05, 2017 – June 09, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 2.50%.

As we have mentioned last week that minor support for the index lies in the zone of 2900 to 2930. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying. During the week the index manages to hit a low of 2908 and close the week around the levels of 2923.

Minor support for the index lies in the zone of 2900 to 2930. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 2990 to 3020 from where the index broke down after consolidation and short & medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2800 to 2830 on downside & 3050 to 3080 on upside.

Nifty Metal Outlook for the Week (May 29, 2017 – June 02, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (May 29, 2017 – June 02, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 1.90%.

As we have mentioned last week that minor support for the index lies in the zone of 2875 to 2900. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying. During the week the index manages to hit a low of 2841 and close the week around the levels of 2997.

Minor support for the index lies in the zone of 2900 to 2930. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 2990 to 3020 from where the index broke down after consolidation and short & medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017.

Broad range for the index is seen between 2900 to 2930 on downside & 3100 to 3130 on upside.

Nifty Metal Outlook for the Week (May 22, 2017 – May 26, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (May 22, 2017 – May 26, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 1.00%.

As we have mentioned last week that minor resistance for the index lies in the zone of 2900 to 2920. Resistance for the index lies in the zone of 2980 to 3020 from where the index broke down after consolidation and short & medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150. During the week the index manages to hit a high of 3042 and close the week around the levels of 2943.

Minor support for the index lies in the zone of 2875 to 2900. Support for the index lies in the zone of 2820 to 2840 where short term bottom and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2780 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 2980 to 3020 from where the index broke down after consolidation and short & medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150.

Broad range for the index is seen between 2800 to 2830 on downside & 3030 to 3050 on upside.

Nifty Metal Outlook for the Week (May 15, 2017 – May 19, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (May 15, 2017 – May 19, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 1.90%.

As we have mentioned last week that minor resistance for the index lies in the zone of 2900 to 2920. Resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150. During the week the index manages to hit a high of 2947 and close the week around the levels of 2912.

Minor support for the index lies in the zone of 2875 to 2900. Support for the index lies in the zone of 2750 to 2800 where Fibonacci levels and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2680 to 2700.

Minor resistance for the index lies in the zone of 2900 to 2920. Resistance for the index lies in the zone of 2980 to 3020 from where the index broke down after consolidation and short & medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150.

Broad range for the index is seen between 2800 to 2830 on downside & 3000 to 3030 on upside.

Nifty Metal Outlook for the Week (May 08, 2017 – May 12, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (May 08, 2017 – May 12, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 3.90%.

As we have mentioned last week that resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150. During the week the index manages to hit a high of 3010 and close the week around the levels of 2857.

Support for the index lies in the zone of 2750 to 2800 where Fibonacci levels and 200 Daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2680 to 2700.

Minor resistance for the index lies in the zone of 2900 to 2920. Resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150.

Broad range for the index is seen between 2680 to 2700 on downside & 3000 to 3030 on upside.

Nifty Metal Outlook for the Week (May 02, 2017 – May 05, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (May 02, 2017 – May 05, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.40%.

As we have mentioned last week that minor resistance for the index lies in the zone of 2950 to 2970. Resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150. During the week the index manages to hit a high of 3016 and close the week around the levels of 2974.

Minor support for the index lies in the zone of 2940 to 2950. Support for the index lies in the zone of 2880 to 2910 from where the index broke out from November-2016 and December-2016 highs. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2800 where Fibonacci levels and 200 Daily moving averages are lying.

Resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150.

Broad range for the index is seen between 2870 to 2900 on downside & 3100 to 3130 on upside.

Nifty Metal Outlook for the Week (April 24, 2017 – April 28, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (April 24, 2017 – April 28, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 2.70%.

As we have mentioned last week that minor resistance for the index lies in the zone of 3020 to 3040. Resistance for the index lies in the zone of 3080 to 3100 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 3150 to 3170. During the week the index manages to hit a high of 3020 and close the week around the levels of 2905.

Support for the index lies in the zone of 2880 to 2910 from where the index broke out from November-2016 and December-2016 highs. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2800 where Fibonacci levels and 200 Daily moving averages are lying.

Minor resistance for the index lies in the zone of 2950 to 2970. Resistance for the index lies in the zone of 3020 to 3050 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3130 to 3150.

Broad range for the index is seen between 2800 to 2830 on downside & 3000 to 3030 on upside.

Nifty Metal Outlook for the Week (April 17, 2017 – April 21, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (April 17, 2017 – April 21, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 4.00%.

As we have mentioned last week that minor support for the index lies in the zone of 3060 to 3080. Support for the index lies in the zone of 2990 to 3020 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs. During the week the index manages to hit a low of 2980 and close the week around the levels of 2986.

Support for the index lies in the zone of 2980 to 3000 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Minor resistance for the index lies in the zone of 3020 to 3040. Resistance for the index lies in the zone of 3080 to 3100 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 3150 to 3170.

Broad range for the index is seen between 2880 to 3000 on downside & 3080 to 3100 on upside.

Nifty Metal Outlook for the Week (April 10, 2017 – April 13, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (April 10, 2017 – April 13, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 0.50%.

As we have mentioned last week that minor resistance for the index lies in the zone of 3110 to 3120. Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250. During the week the index manages to hit a high of 3158 and close the week around the levels of 3111.

Minor support for the index lies in the zone of 3060 to 3080. Support for the index lies in the zone of 2990 to 3020 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Minor resistance for the index lies in the zone of 3110 to 3120. Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250.

Broad range for the index is seen between 3000 to 3030 on downside & 3170 to 3200 on upside.

Nifty Metal Outlook for the Week (April 03, 2017 – April 07, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week  (April 03, 2017 – April 07, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 0.80%

As we have mentioned last week that minor support for the index lies in the zone of 3080 to 3100. Support for the index lies in the zone of 2990 to 3020 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs. During the week the index manages to hit a low of 3035 and close the week around the levels of 3097.

Minor support for the index lies in the zone of 3050 to 3060. Support for the index lies in the zone of 2990 to 3020 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Minor resistance for the index lies in the zone of 3110 to 3120. Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250.

Broad range for the index is seen between 3000 to 3030 on downside & 3170 to 3200 on upside.

Nifty Metal Outlook for the Week (March 27, 2017 – March 31, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (March 27, 2017 – March 31, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on absolutely flat note.

As we have mentioned last week that resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250. During the week the index manages to hit a high of 3145 and close the week around the levels of 3123.

Minor support for the index lies in the zone of 3080 to 3100. Support for the index lies in the zone of 2990 to 3020 where bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250.

Broad range for the index is seen between 3000 to 3030 on downside & 3220 to 3250 on upside.

Nifty Metal Outlook for the Week (March 20, 2017 – March 24, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (March 20, 2017 – March 24, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 3.10%.

As we have mentioned last week that support for the index lies in the zone of 2980 to 3000 where short term moving averages and bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs. During the week the index manages to hit a low of 3022 and close the week around the levels of 3127.

Minor support for the index lies in the zone of 3080 to 3100. Support for the index lies in the zone of 2990 to 3020 where short term moving averages and bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250.

Broad range for the index is seen between 3000 to 3030 on downside & 3220 to 3250 on upside.

Nifty Metal Outlook for the Week (March 14, 2017 – March 17, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (March 14, 2017 – March 17, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 4.80%.

As we have mentioned last week that minor support for the index lies in the zone of 3140 to 3160. Support for the index lies in the zone of 3080 to 3100 where the index has taken multiple support. If the index manages to close below these levels then the index can drift to the levels of 2950 to 3000 where short term moving averages and bottom for the month of February-2017 is lying. During the week the index manages to hit a low of 3023 and close the week around the levels of 3035.

Support for the index lies in the zone of 2980 to 3000 where short term moving averages and bottom for the month of February-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of 2890 to 2910 from where the index broke out from November-2016 and December-2016 highs.

Minor resistance for the index lies in the zone of 3090 to 3110. Resistance for the index lies in the zone of 3150 to 3180 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 3220 to 3250.

Broad range for the index is seen between 2900 to 2930 on downside & 3150 to 3180 on upside.

Nifty Metal Outlook for the Week (March 06, 2017 – March 10, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (March 06, 2017 – March 10, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.00%.

As we have mentioned last week that resistance for the index lies in the zone of 3150 to 3170. Resistance for the index lies in the zone of 3330 to 3370 from where the index sold off in the month of August-2014. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where the index has formed a top in the month of June-2014. During the week the index manages to hit a high of 3234 and close the week around the levels of 3187.

Minor support for the index lies in the zone of 3140 to 3160. Support for the index lies in the zone of 3080 to 3100 where the index has taken multiple support. If the index manages to close below these levels then the index can drift to the levels of 2950 to 3000 where short term moving averages and bottom for the month of February-2017 is lying.

Minor resistance for the index lies in the zone of 3240 to 3260. Resistance for the index lies in the zone of 3330 to 3370 from where the index sold off in the month of August-2014. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where the index has formed a top in the month of June-2014.

Broad range for the index is seen between 3080 to 3100 on downside & 3280 to 3300 on upside.

Nifty Metal Outlook for the Week (February 27, 2017 – March 03, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (February 27, 2017 – March 03, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor support for the index lies in the zone of 3000 to 3050. Support for the index lies in the zone of 2850 to 2900 from where the index broke out from double top pattern. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2775 where medium term moving averages and Fibonacci levels are lying. During the week the index manages to hit a low of 3034 and close the week around the levels of 3120.

Minor support for the index lies in the zone of 3050 to 3080. Support for the index lies in the zone of 2950 to 2980 where the index has formed a short term bottom. If the index manages to close below these levels then the index can drift to the levels of 2850 to 2900 from where the index broke out from double top pattern.

Resistance for the index lies in the zone of 3150 to 3170. Resistance for the index lies in the zone of 3330 to 3370 from where the index sold off in the month of August-2014. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where the index has formed a top in the month of June-2014.

Broad range for the index is seen between 3030 to 3050 on downside & 3220 to 3250 on upside.

Nifty Metal Outlook for the Week (February 20, 2017 – February 24, 2017)

EquityPandit’s Outlook for NIFTY METAL for the week (February 20, 2017 – February 24, 2017) :

NIFTY METAL:

 

NIFTYMETAL

 

Nifty METAL index closed the week on negative note losing around 0.70%.

As we have mentioned last week that minor resistance for the index lies in the zone of 3100 to 3120. Resistance for the index lies in the zone of 3180 to 3200. Resistance for the index lies in the zone of 3330 to 3370 from where the index sold off in the month of August-2014. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where the index has formed a top in the month of June-2014. During the week the index manages to hit a high of 3116 and close the week around the levels of 3054.

Minor support for the index lies in the zone of 3000 to 3050. Support for the index lies in the zone of 2850 to 2900 from where the index broke out from double top pattern. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2775 where medium term moving averages and Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 3100 to 3120. Resistance for the index lies in the zone of 3180 to 3200. Resistance for the index lies in the zone of 3330 to 3370 from where the index sold off in the month of August-2014. If the index manages to close above these levels then the index can move to the levels of 3500 to 3550 where the index has formed a top in the month of June-2014.

Broad range for the index is seen between 2930 to 2950 on downside & 3120 to 3150 on upside.