Metal Stocks Outlook
May gain next wk; Nifty Metal to find support at 10150
This story was originally published at 22:36 IST on 28 November 2025
Register to read our real-time news.Informist, Friday, Nov. 28, 2025
NEW DELHI – Stocks of metal and mining companies are expected to continue their winning streak in the coming week, according to the founder of a domestic brokerage. This is due to the recent fall in the dollar index, and expectation of a rate cut by the US Federal Reserve at its December meet, she said.
"We believe that the 50-day simple moving average, around 10280 points, and the support zone near 10150 points, will act as key support levels (for the Nifty Metal index).... If it succeeds in trading above these levels, it could bounce back to the range of 10425 points-10500 points. On the flip side, a decline below 10150 points could lead to a retest of the 10000 points level," said Amol Athawale, vice president of technical research at Kotak Securities Ltd.
On Friday, the Nifty Metal ended marginally higher at 10293.05 points, recovering from the previous session's fall. During the week, the index logged sharp gains, rising 1.5%. Meanwhile, the benchmark Nifty 50 ended flat Friday, and fell 0.5% in the week.
Earlier this week, a Reuters report quoting an unnamed source had said that India is considering to extend the safeguard duty on some steel products to counter cheaper imports, primarily from China. The Directorate General of Trade Remedies had in August recommended an import tariff of 11-12% on some steel products for three years. The government had in April imposed a 12% temporary tariff for 200 days which ended earlier this month.
TOP HEADLINES
* NCLT approves Kalinga Allied Industries' resolution plan for Bindals Sponnge
* HC gives interim relief to Tata Steel from INR-24-bln demand by mines dept
* ANALYSIS: Metal, mining cos' Jul-Sept YoY sales growth highest in 13 qtrs
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. | 808.40 | 4.00 | 818.00 | 802.40 |
| HINDUSTAN COPPER LTD. | 327.00 | 4.10 | 337.20 | 316.60 |
| HINDUSTAN ZINC LTD. | 485.20 | 5.90 | 496.10 | 471.50 |
| JINDAL STEEL LTD. | 1044.40 | 0.60 | 1063.10 | 1027.90 |
| JSW STEEL LTD. | 1160.30 | 1.80 | 1181.40 | 1142.80 |
| JINDAL STAINLESS LTD. | 771.05 | 2.50 | 782.70 | 757.80 |
| NATIONAL ALUMINIUM CO. LTD. | 259.98 | 3.70 | 266.50 | 256.30 |
| NMDC LTD. | 73.92 | 0.60 | 75.70 | 72.60 |
| STEEL AUTHORITY OF INDIA LTD. | 134.91 | 0.60 | 138.40 | 132.80 |
| TATA STEEL LTD.. | 167.96 | (-)0.00 | 169.80 | 166.40 |
| VEDANTA LTD. | 526.00 | 6.00 | 537.30 | 513.00 |
| NIFTY METAL | 10293.05 | 1.50 | 10413.20 | 10187.10 |
| NIFTY 50 | 26202.95 | 0.50 | 26327.10 | 26110.40 |
| BSE SENSEX | 85706.67 | 0.60 | 86143.50 | 85359.40 |
End
Reported by Shakshi Jain
Edited by Tanima Banerjee
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
