Nifty Metal Breakout Ahead or More Weakness - 22.03.2025
Nifty Metal Breakout Ahead or More Weakness - 22.03.2025
Nifty Metal Breakout Ahead or More Weakness - 22.03.2025
Nifty Pharma: Ready for the Next Big Move? - 22.03.2025
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Key Factors Affecting & Reasons
- Nifty Metal index remains in a strong long-term uptrend but is currently experiencing a pullback.
- The 50-day moving average (9199.80) is acting as a resistance, while the 150-day (7337.42) and 200-day (6933.11) moving averages serve as strong support zones.
- RSI at 54.68 indicates neutral momentum, reflecting indecision among traders.
- MACD shows mixed signals, with positive divergence but still hovering near a bearish crossover.
- ADX at 19.01 suggests weakening trend strength, hinting at possible consolidation.
Key Watch
- Support levels: 8,800 | 7,500
- Resistance levels: 9,200 | 10,000
- A breakout above 9,200 may trigger further bullish momentum, while a drop below 8,800 could signal more downside pressure.
Volume Analysis
- Current trading volume stands at 763.18M, higher than the average 675.63M, indicating increased interest in the index.
- A volume surge will be crucial to confirm any breakout or breakdown.
Dow Theory Chart Analysis & Observations
- The index continues to follow a long-term uptrend but is facing resistance at higher levels.
- Price action is testing key support and resistance levels, making it a critical point for upcoming moves.
- If the index sustains above 9,200, it could trigger a bullish rally, whereas a drop below 8,800 might bring further selling pressure.
Stocks to Watch
- Tata Steel
- JSW Steel
- Hindalco
- Vedanta
Market Insights: Short-Term & Long-Term View
- Short-Term: The index is in a consolidation phase, and a breakout above 9,200 is necessary for renewed bullish momentum.
- Long-Term: The bullish trend remains intact, and any dips may present good accumulation opportunities for long-term investors.
Disclaimer : This analysis is for educational and informational purposes only. It does not constitute financial advice. Please conduct your own research before making investment decisions.
Online Stock Market Traning : Whatsapp : 9841986753
One to One Share Market Training : Whatsapp : 9841986753
RUPEEDESK SHARES
Rupeedesk Shares| Share Market Training | Intraday Training | Wealth creation
Stock Market Training for beginners,Technical Analysis on Equity,Commodity,Forex Market,Learn Indian Equity Share Market Share Market Trading Basics: Fundamentals Of Share Market Trading training, Stock Market Basics - Share Market Trading Basics,Share Market Trading Questions/Answers/Faq about Share Market derivatives,rupeedesk,learn and earn share Equity,Commodity and currency market traded in NSE,MCX,NCDEX And MCXSX- Rupeedesk.Contact: 9094047040/9841986753/ 044-24333577, www.rupeedesk.in)
