Hi friends, On daily chart CNXMetal on a DZ and on hourly chart, till 50 to 80 point up move possible, and at the same time JINDALSTEL and JSWSTEEL are both in DZ on daily basis. Though Metal sector on a demand zone and a reversal is expected as metal price is increasing in spot, yet I haven't choose TATASTEEL as it yet to come its weak DZ. As per my view JINDALSTEL can be long with a strict stop loss 339 for tgt 375 and 396, and JSWSTEEL is an out performer than the Metal Index and it has just started up move, and till it hasn't broken its up trend... as it is holding HH-HL formation, so I think it is another Metal counter where one can take a long position with strict stop loss 664 and can be carried for next HH....... JSWSTEEL also crossed it 200 DMA. WIth comparison of Metal Index I think JSWSTEEL is the best for now.
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