Metal Stocks Outlook
Positive cues seen for Nifty Metal amid key triggers
This story was originally published at 22:49 IST on 12 September 2025
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NEW DELHI – The Nifty Metal index, which has seen a sharp run-up in the last two weeks, is expected to be in positive territory in the coming week amid key triggers. "The first one is the improving relations with China. Second, China's demand is also likely to increase significantly. The third key reason is that China has decided to cut its official steel production between 2025 to 2026 because of oversupply," said Sugandha Sachdeva, founder of SS WealthStreet.
Sachdeva listed weakness in the dollar index and expectations of a rate cut by the US Fed at its September meeting as another positive trigger for the Nifty Metal index. "Whenever we see a fall in dollar index, that bodes well for the metal counters and that is also reflecting on the metal stock prices and the metal index as well," she said.
In the coming week, support for the Nifty Metal is pegged at 9700 points and resistance at 10050 points. Friday, the index closed at 9883.60 points, rising for the sixth consecutive session. "There has already been a strong jump in the metal index in last two weeks, so there might be intitially some consolidation. The trend overall remains positive but yes, some dips cannot be ruled out," Sachdeva said. Among individual stocks, she named Steel Authority of India and Hindalco Industries as her top picks.
On the overall performance of Indian steel companies, JM Financial Institutional Securities Thursday said they are expected to witness a soft quarter in Jun-Sept due to lower realisations. Volumes are expected to remain soft given a seasonally weak quarter, the brokerage added.
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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| HINDALCO INDUSTRIES LTD | 758.05 | 1.90 | 768.70 | 739.80 |
| HINDUSTAN COPPER LTD | 280.05 | 14.70 | 302.60 | 239.70 |
| HINDUSTAN ZINC LTD | 462.95 | 5.20 | 475.10 | 441.40 |
| JINDAL STEEL LTD | 1035.95 | 0.10 | 1055.60 | 1017.40 |
| JSW STEEL LTD | 1099.00 | 2.40 | 1114.90 | 1085.10 |
| JINDAL STAINLESS LTD | 740.95 | (-)2.00 | 776.10 | 719.10 |
| NATIONAL ALUMINIUM CO LTD | 218.30 | 2.90 | 222.00 | 212.50 |
| NMDC LTD | 76.47 | 2.60 | 77.60 | 74.80 |
| STEEL AUTHORITY OF INDIA LTD | 132.26 | 2.30 | 133.90 | 130.50 |
| TATA STEEL LTD | 169.78 | 1.30 | 172.20 | 167.40 |
| VEDANTA LTD | 450.90 | 1.20 | 464.20 | 432.40 |
| NIFTY METAL | 9883.60 | #VALUE! | 9964.20 | 9760.00 |
| NIFTY 50 | 25114.00 | 1.50 | 25198.60 | 24995.80 |
| BSE SENSEX | 81904.70 | 1.50 | 82197.80 | 81494.80 |
End
Reported by Shakshi Jain
Edited by Avishek Dutta
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