Check Nifty Metal Index Full Analysis At Unicorn Signals

Nifty Metal Weekly Outlook and Analysis:

For the Week: (Dec 26, 2022 – Dec 30, 2022)

Check Nifty Metal Index Full Analysis At Unicorn Signals

NIFTY METAL Index closed the week on negative note losing 429.70 points 6.45%.

Weekly High: 6,802.95

Weekly Low: 6,205.50

Weekly Close: 6,228

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 6000 levels, whereas minor resistance on the upside is capped around 6350-6400 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 5800 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 6600.

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 5900 on downside and 6500 on upside.