Weekly Timeframe Analysis

Sardaen has also shown good strength in the weekly Time frame. It came out from the rounded bottom and formed cup & handle pattern which broke and traded above it.

It is still trading above the high level which is 1360 and immediate resistance is just present at 1199 level around which a good consolidation can create a swing opportunity.

Daily Timeframe Analysis

SARDAEN shown a good strength at daily time frame and after a run up it formed a descending flag which broke out on good volume followed by two days run.   

SARDAEN Can give another proper buy point near weekly resistance level as it is still under base on weekly TF.

CNXMETAL INDEX ANALYSIS

Nifty Metal is trading at high level with resistance of 6919 level but shown good strength around this key level. Other stocks in metal sector is already doing good. 

Analysis done by:
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.

Disclaimer: The views and analysis shared here are for educational purposes only. This is in no way to be considered as any Investment / Trading advice.