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Nifty Metal Index Weekly Outlook and Analysis:

For the Week: (July 17, 2023 – July 21, 2023)

Nifty Metal Outlook for the Week (17-JUL-2023 to 21-JUL-2023)

NIFTY METAL Index closed the week on positive note gaining 190.20 points 3.03%.

Weekly High: 6,487.15

Weekly Low: 6,284.70

Weekly Close: 6,469.45

Weekly Support & Resistance For Nifty Metal Index:

Technically on the daily charts we see minor support on the downside for NIFTY METAL index lies at 6,350 levels, whereas minor resistance on the upside is capped around 6,550-6,575 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 6,250 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 6,700.

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 6,300 on downside and 6,650 on upside.