Top Intraday Metal Stocks near breakout for 25th April 2024:- Today we are back with the Top Metal stocks to buy or trade on 25th April 2024. These stocks are filtered from our free breakout stock screener. After we have seen the best performance of this screener in our telegram channel, i am providing it for free to our subscribers.
Nifty 50 stock opened gap up and moved in sideways today. Among the sectorial Indices metal, healthcare and consumer durables gained the most. On the other side IT and media stocks declined the most in today's market.
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| Nifty Metal index |
In today's market Nifty Metal index given a breakout from the previous stock resistance ranging from 9038 to 9065 levels. After breakout Nifty Metal moved more than 2.70 percentage to close at 9140 which is 240 points above from the previous day Closing. You can see the possible movement in the Nifty Metal chart as given above. This is a good sign for the metal stocks.
In this post am doing the chart analysis for the JINDALSTEL(Jindal steel and Power Ltd) and JSWSTEEL (JSW Steel Ltd). These stocks are stocks stocks in Nifty Metal sector.
Also Read Our previous post about "Tips to Start Investing In Share Market for Beginners 2024"
JINDALSTEL(Jindal steel and Power Ltd) Intraday Breakout Levels
JINDALSTEL(Jindal steel and Power Ltd) Share is the first stock in our list which you can consider it for buying in tomorrow's market. Here you can find the four hour breakout chart for JINDALSTEL share. Stock price moved upside more than 3 percentage Today. But couldn't break the previous day high. So we can find a channel like pattern on the chart given below.
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| JINDALSTEL(Jindal steel and Power Ltd) Intraday Breakout Levels |
So there are 2 possibilities, JINDALSTEL Share price can give upside breakout above 946 levels to give Further up movement. Or if it couldn't break the resistance level of 937 to 945 levels then the stock price can come back to support level of 882 to 875.
JSWSTEEL (JSW Steel Ltd) Share Intraday breakout Levels
JSWSTEEL (JSW Steel Ltd) Share is our second breakout stock from Metal sector for trading in upcoming market section. Today JSWSTEEL (JSW Steel Ltd) share moved more than 3.70 percentage to close at current market price of 882. We have shared daily chart for this stock to breakout analysis. Here also we can see a formation of channel pattern and we have 2 possibilities.
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| JSWSTEEL (JSW Steel Ltd) Share Intraday breakout Levels |
JSWSTEEL (JSW Steel Ltd) Share can give a upside breakout above the current resistance level of 885 to 891 levels. So buy above 891 level to give more upside movement in this share. If the stock price failed to break above this mentioned resistance level, you may see a fall towards the support levels of 840 to 833 levels.
Conclusion
So we seen the breakout levels for top stocks from metal sector, which we have selected from the free breakout stock screener. Mark those levels and wait for levels to enter into those trades in this particular stocks