Nifty Metal Weekly Analysis Is the Rally Over or Just a Pause - 28.03.2025
Nifty Metal Weekly Analysis Is the Rally Over or Just a Pause - 28.03.2025
Nifty Metal Weekly Analysis Is the Rally Over or Just a Pause - 28.03.2025
Nifty Metal Weekly Analysis Is the Rally Over or Just a Pause - 28.03.2025
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Key Factors Affecting & Reasons
1. Global commodity prices – Rising or falling metal prices impact the index directly.
2. China’s demand – As a major consumer of metals, any slowdown or stimulus from China affects the sector.
3. Supply chain and inflation – Higher input costs and supply constraints can impact profitability.
4. Technical pullback – The index is currently consolidating after a strong rally.
Key Watch
- Support levels: 9000 and 7360
- Resistance levels: 9200 and 11000
- Indicators to monitor: RSI at 53.11 (neutral zone), MACD showing bearish divergence, ADX at 21.17 (indicating a weak trend).
Volume Analysis
- High volume near support suggests buying interest.
- Volume contraction near resistance may indicate hesitation or profit booking.
Dow Theory Chart Analysis & Observations
- Primary trend: Bullish long-term uptrend.
- Secondary trend: Corrective pullback after a steep rise.
- Key observations: Price is testing the 50-day moving average, which could act as strong support.
Stocks to Watch
- Tata Steel
- JSW Steel
- Hindalco Industries
- Vedanta
- Jindal Steel & Power
Market Insights
Short-Term View
- The index may consolidate before making a decisive move.
- Watch for a breakout above resistance or breakdown below support.
Long-Term View
- The metal sector remains strong with demand from infrastructure and manufacturing.
- Global economic trends will play a crucial role in shaping future movements.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Please consult a professional before making investment decisions.
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