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| Nifty Metal Index [Source: Investing] |
The above chart is the daily chart of the Nifty Metal Index. The index yesterday bounced right off the trend line support connecting the June 2017, December 2017, and February 2018 lows.
It has also completed the 'D' leg of a bullish Gartley pattern, suggesting at a potential move higher in the days ahead. Meanwhile, the daily RSI has also bounced off the bull market support zone.
Based on these, it looks like a short-term up move could be on the cards. A daily close above yesterday's high of 3909 would open door for a rally towards the recent high of 4113. The bullish view remains intact as long as price is above yesterday's low of 3806.
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