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Informist, Friday, Dec. 19, 2025

MUMBAI – The Nifty Metal index is expected to move in a range in the near term amid softening steel prices and rising input costs, according to analysts. Market participants said the recently-imposed anti-dumping duty on cold rolled non-oriented electrical steel imported from China will provide only a negligible relief to the sector. The measure might be beneficial for only a few companies such as JSW Steel and Tata Steel. 

The steel industry currently needs an anti-dumping duty on hot-rolled coils, which are the biggest and the most fundamental segment in the sector, according to an analyst at a domestic brokerage. Talking about the near-term outlook for the sector, analysts said that the December quarter may remain subdued as the recovery in demand, primarily from the infrastructure sector, is yet to reach

the market in the reporting quarter. Investors will have to look for stock-specific triggers. 

On the technical front, the Nifty Metal index is likely to move in a broader range of 10000 to 10750 points and remain rangebound for at least a couple of weeks, according to Anshul Jain, technical analyst at Laxmishree Investments and Securities. Tata Steel and JSW Steel are Jain's top picks for the near term. For the week ended Friday, the Nifty Metal index closed marginally lower at 10521.10 points. 

"The breakout zone near 9950–10000 has turned into a reliable support area, while immediate resistance is placed around 10800–11000 levels. RSI remains in a healthy bullish range, indicating strength without entering extreme overbought territory," said Vikash Yadav equity research head at Kedia Advisory.

Regarding the aluminium segment, Elara Capital said aluminium prices are likely to stay strong as China nears its 45-mln-tonne output cap, which is likely to tighen global supply and provide a boost to the Indian players. Thus, the brokerage continues to prefer aluminium producers over steel companies. 

TOP HEADLINES

* Govt imposes anti-dumping duty on Chinese electrical steel for 5 years
* Godawari Power invests INR 739.5 mln in arm through rights issue
* Borgos Multitrade sells 3 mln shares of Lloyds Metals for INR 3.91 bln
* HC upholds selecting Sunflag Iron as preferred bidder for phosphorite block
* NCLT Mumbai OKs Vedanta's scheme of arrangement for demerger of businesses
* JSW Steel arm's JV with Japan co brings it step closer to rating upgrade
* HC extends interim relief to Tata Steel on Jajpur demand orders till Dec 19
* ICRA puts JSW Steel's long-term rating on watch with 'positive implications'
* Usha Martin promoter sells 0.8% stake; Morgan Stanley among buyers
* Godawari Power to raise battery energy storage project capacity to 40GWh

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:

End

Reported by P. Madhu Kumar

Edited by Vandana Hingorani

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