Aetram Research India - Nifty Metal - Weekly Sector Outlook
Aetram Research India - Nifty Metal - Weekly Sector Outlook
Nifty Metal Continues Its Bullish Trend; 13,600 Key for Further Upside Toward 13,900 - 29.08.2026
Current Market Price: 13,525.35
Market Prediction:
- Nifty Metal remains firmly constructive, trading above all major moving averages and preserving a higher-high, higher-low structure. RSI near 61 and CCI near 100 support positive momentum, while ADX above 32 confirms strengthening trend quality. Sustaining above 13,600 may extend gains; slipping below 13,300 would weaken near-term momentum and structure.
Upcoming Events:
- China stimulus signals may support global metals demand expectations further.
- Domestic infrastructure spending momentum could strengthen steel and metal demand.
- Commodity price weakness may pressure realizations across domestic metal producers.
Major Support and Resistance
- Support: 13,310 | 13,125 | 12,975
- Resistance: 13,580 | 13,650 | 13,800
Volume Analysis:
- Volume expanded during the latest advance, supporting participation near recent highs. However, momentum has cooled after the recent surge. Renewed volume expansion above 13,600 would strengthen continuation prospects, while heavier selling below 13,300 warrants caution.
Final Take Away:
- Nifty Metal retains structural advantage above 13,300, supported by rising averages and healthy momentum. Sustained strength beyond 13,600 could reopen higher targets, while failure below 13,300 would shift focus toward the 13,125–12,975 support zone next.
Next Week Prediction:
- Next week, Nifty Metal may retain positive bias above 13,300; sustained strength over 13,600 could extend toward 13,750–13,900, while weakness below 13,300 may invite consolidation.
Scenario-Based Outlook
- Bullish Scenario: Above 13,600, price may move toward 13,750–13,900 zone
- Bearish Scenario: Below 13,300, downside risk toward 12,975–13,125 zone
- Neutral Scenario: Between 13,300–13,600, consolidation likely
Disclaimer: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.
