NIFTY METAL

Nifty Metal Outlook for the Week (Nov 14, 2022 – Nov 18, 2022)

Check Nifty Metal Index Full Analysis At Unicorn Signals

Nifty Metal Weekly Outlook and Analysis:

For the Week: (Nov 14, 2022 – Nov 18, 2022)

Nifty Metal Outlook for the Week (Nov 14, 2022 – Nov 18, 2022)

Check Nifty Metal Index Full Analysis At Unicorn Signals

NIFTY METAL Index closed the week on positive note gaining 123.05 points 1.95%.

Weekly High: 6,459.50

Weekly Low: 6,293.25

Weekly Close: 6,447.20

Weekly Support & Resistance For Nifty Metal Index:

RESISTANCE 26,566                                       
RESISTANCE 16,506
SUPPORT 16,340
SUPPORT 26,233 
Nifty Metal Outlook for the Week (Nov 14, 2022 – Nov 18, 2022)

Technically on the daily charts we see minor support on the downside for NIFTY METAL index lies at 6300 levels, whereas minor resistance on the upside is capped around 6550-6600 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 6200 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 6700.

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 6250 on downside and 6650 on upside.

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