Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Metal Index – Sector Outlook

32 sec read

Last time we tried to evaluate the fair value of metal index using extreme sentimental and running point of control when the metal index stares at 60% draw-down.

The metal index in the last couple of months had recovered from the drawdown moved significantly from 1483 to 2550 levels which delivered 72% returns since the low of March 2020 when the entire nation goes for a lockdown. Tremendous value investing opportunity struck when the economy almost came to standstill.

G7g1jbmP (1524×930)

At this point in time sector is bit over heated and nearing the important resistance zone 2580 where profit booking and consolidations are likely to be expected in this zone before the metal index move out of this zone.

As the price travels around important zone more trading participants will be likely to chase momentum and might get could with any breaks and breakout failures are likely common when the whole crowd is expecting more and more.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Smallcap Will it declines 30% from the current…

Nifty Smallcap index formed a classical bullish island reversal pattern during the last week of May 2020 since then index rallied from 4000+ levels...
Rajandran R
31 sec read

Nifty IT Sector – Quarterly Charts Overview

Thought of titling "What could possibly go wrong with Nifty IT sector" - however, thought of let's not get into overhype mode. By any...
Rajandran R
36 sec read

Nifty Metal Index – Sector Outlook

Last time we tried to evaluate the fair value of metal index using extreme sentimental and running point of control when the metal index...
Rajandran R
32 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More