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Nifty Metal Index Weekly Outlook and Analysis:

For the Week: (June 19, 2023 – June 23, 2023)

Nifty Metal Outlook for the Week (June 19, 2023 – June 23, 2023)

NIFTY METAL Index closed the week on positive note gaining 192.15 points 3.18%.

Weekly High: 6,265.30

Weekly Low: 6,048.20

Weekly Range: 6,231.50

Weekly Support & Resistance For Nifty Metal:

Technically on the daily charts we see minor support on the downside for NIFTY METAL index lies at 6,150 levels, whereas minor resistance on the upside is capped around 6,300-6,350 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 6,000 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 6,500.

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 6,050 on downside and 6,450 on upside.