Chart signals a pause in metal rally

The Nifty Metal Index, comprising 15 stocks led by the likes of Tata Steel, JSW Steel, Hindalco, Vedanta and SAIL, rose from a low of 1,480.7 on March 23, 2020, to a record high of 5,524.25 on May 11 this year. All corrections during this uptrend were characterised by higher highs and higher lows. However, this year, the index corrected to 4,987.25 on May 26 , before bouncing back to 5,421.5 on June 7 before plunging to 4,858.8 on June 18.

via Economictimes