Over the last few weeks and months, the market has been messier than before. With so much going around, the most valuable thing we like to do is follow the price action.
The beginning of this week started with great strength coming through from the Metal stocks and we’re here to highlight just that today.
Read on to know if your favourite stock made it to the list!
Metals, and here I mean base metals, have been doing the bulk of the lifting with Equity and Currencies moving sideways. Commodities have been showing a clear path of trend and have been the more profitable area to be invested in.
Take a look at our custom Equally weighted base metals chart below. Bottom left to top right. That’s the signature of any good trend in a market. And this chart is doing just that.
Click on the chart to zoom in.
Let’s take a look at what the metals sector is looking like.
This is the Nifty Metal monthly chart. Notice how the price has been moving sideways for close to eight months now. But what is also important to notice is that the price closed at the highest level since this sideways consolidation. Will the price follow through on this 15-year base breakout? Well, that’s for us to wait and watch, but there are certainly stock-specific names that seem to believe so. Let’s take a look at these stocks.
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