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Are Metals Still the Best Sector of 2021 | Sector Investing | Metal Stocks - YouTube
Channel: Equitymaster
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hello viewers
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welcome to the fast profits daily myself
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british vatia
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i have been receiving many queries about
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the sector which i have recommended at
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the start of the year
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indicating that the sector of the 2021
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will be metals
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and we have seen matters in last nine
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months
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nearly
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doubling from the lower levels
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so what one should do is this
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end to a bullish trend
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or a pause to the
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ongoing momentum
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well i believe
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it isn't pause
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and i will show you why i'm saying so
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that it is a pause
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so
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if you haven't
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watched my video of for january where
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i've indicated the sector of the 2021
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will be metals
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do watch it uh there is a link in the
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description
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and uh you can watch that why i have
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recommended the metals as in sector for
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2021.
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so let's jump on to the first chart over
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here which is the copper chart copmax
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copper chart
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uh so if you look at the chart over here
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uh comex copper has been resisting
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around four point six five four point
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seven dollar mark
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uh again now and if you look at uh the
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momentum the same eyes were made in 2011
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where the commodities was having a
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bullish momentum or bull run
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and again uh as we say into the
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technicals that history repeats itself
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and price on charts
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are not to be forgotten uh there is
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always a scar
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uh
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on the price action if you look at the
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historical charts
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so again the same level of 4.65 4.7 is
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playing
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as a resistance for comex copper over
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here and from there we have again seen a
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slight dip into the copper prices
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if you remember our thesis was that
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copper will rarely in 2021
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and metals will continue to rally uh
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being it aluminium zinc or lead and
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again the metal index into the india
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will rally but if you look at the copper
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is slightly resisting over here but even
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if you look at the previous supports
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which were there at around four dollar
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mark is holding uh
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strong and bulls are managing to hold
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those levels so till uh four is held
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around three point nine level is held on
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the comex copper i believe that the
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bullish momentum would continue and
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again this is a weekly chart so i'm
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taking a slightly longer term trend over
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here any
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uh break about four point eight four
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point eight five dollar mark on copper
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uh could be a resumption in the bullish
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momentum
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into the corporate prices
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second chart if you look at uh here this
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is again cnx metal which is nifty metal
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index uh weekly chart now if you look at
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the rally uh right from around 2018
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where it started taking a lower level uh
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and until 2020 it was uh going down and
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down the bottom which in 2020 uh and if
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i just take a 161.8 percent of 2018 to
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2020 fall
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the resistance is around 5 800 levels
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and we have since similar highs prices
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are back towards 5 500
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now on the index and it has been
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slightly uh consolidating
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the positive or uh for bulls something
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is here that if you look at the previous
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uh highs which were somewhere around
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4200
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uh
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it has taken surpass with a stronger
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momentum and now the consolidation is
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going on so i believe yes this is just a
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pause to this uh ongoing bullish trend
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uh into the meta space and one should
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continue to hold uh into the
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longer term trend of the copper i
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believe uh till
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484750 levels is not bridge onto the cnx
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metal index
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this bullish trend will continue and i
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foresee uh probably around much higher
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level coming into the cnx metal index in
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next uh six to 12 months so uh
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in case you are holding on to our long
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positions into the metal space which we
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have uh at the start of the 2020 when
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you highlight it
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continue to hold on
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any break about four point eight five uh
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four point nine dollar mark on the
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comics copper if you see
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add up to your pyramid uh the stocks uh
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which are then into the metal space like
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tata steel in dalco or whatever you
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think that jsw steel which is going
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stronger depending on uh the momentum at
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that point of time you can add up your
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pyramid up your positions at that point
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now in case you missed this rally you
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can even add uh you can look to
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uh foreign fresh entries about the
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comics copper price of four point eight
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five four point nine dollar or probably
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even if you look at the six thousand
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mark onto the uh cnx metal index or
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nifty metal index that could be again a
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breakout level
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so that wasn't just an update on uh what
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were the queries which we are getting
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about the metal indices and i believe uh
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you should not miss the next leg of
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bullish momentum coming in uh the
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matters whenever these breakouts happen
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and do not forget to like uh the video
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in case you believe that
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these videos are helping out to make
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profits and do comment how uh in case
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you think that uh some of the topics we
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should cover in our videos
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signing off british patriarch thank you
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