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Nifty Metal Index
Bias: Bearish
Last close: 6,777.85
According to the latest market analysis, it appears that the prices of metals are expected to decrease significantly in the near future. This prediction is supported by the clear evidence present in the near-term charts, which demonstrate a pattern of distribution.
Furthermore, I anticipate that there will be significant resistance encountered at the 6,910 level, leading to the suggestion to adopt a strategy of "sell on the rise" in order to capitalize on this trend.
The target expected for this strategy is a decrease in prices to 6,525 and 6,350.
Intraday No Trade Zone: 6,755 - 6,800
Expected Intraday
