Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDEX OUTLOOK

Nifty Metal Outlook for the Week (July 31, 2023 – Aug 04, 2023)

Check Nifty Metal Index Full Analysis At Unicorn Signals

Nifty Metal Index Weekly Outlook and Analysis:

For the Week: (July 31, 2023 – Aug 04, 2023)

Nifty Metal Outlook for the Week (July 31, 2023 – Aug 04, 2023)

NIFTY METAL Index closed the week on positive note gaining 198.50 points 3.08%.

Weekly High: 6,674.60

Weekly Low: 6,384.60

Weekly Close: 6,640.80

Weekly Support & Resistance for Nifty Metal Index:

RESISTANCE 26,856
RESISTANCE 16,748
SUPPORT 16,458
SUPPORT 26,276

Technically on the daily charts we see minor support on the downside for NIFTY METAL index lies at 6,550 levels, whereas minor resistance on the upside is capped around 6,725-6,750 levels.

If NIFTY METAL index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 6,425 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 6,900.

Currently NIFTY METAL index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 6,450 on downside and 6,850 on upside.

.

Get Daily Prediction & Stocks Tips On Your Mobile