GOLDEN RULES FOR TRADING

Metal Stocks Outlook for the week – 31.08.2015 to 04.09.2015 (Seen in range with a positive bias next week)

Metal Stocks Outlook for the week – 31.08.2015 to 04.09.2015
(Seen in range with a positive bias next week)
  www.rupeedesk.in )

Shares of major metals and mining companies may continue to witness some pull-back action in the next few sessions after being in the oversold zone at the beginning of this week. Recovery may continue in the next week as well, that overall, shares are seen trading in range with a positive bias.
Indications of stability in global commodity prices could also be attributed to the recovery. The CNX Metal index, which declined more than 5% over last week, may find support at 1,750 points and face resistance at 1,930 points.

The worst is not over for the metals and mining sector. Margins of aluminium and steel
manufacturers are under pressure due to fall in global commodity prices and dumping from  China.

Prices of steel are seen firming up, but realisations for companies will improve if gains sustain.