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Informist, Friday, Aug. 14, 2026

 

MUMBAI – After trading above 13000 points for a couple of days, the Nifty Metal index slumped Friday as traders took profits in the absence of major triggers from the war in West Asia. Shares of these companies are likely to consolidate again in the near term before the next directional move, as per technical analysts.

 

The Nifty Metal ended at 12941.70 points Friday, down 92.05 points or 0.7%. National Aluminium Co. was the worst hit, ending the week over 6% lower. Hindustan Zinc, Hindustan Copper, and Hindalco Industries were the other underperformers among the index constituents, ending 1.6-2.8% lower. Adani Enterprises, Lloyds Metals and Energy, and APL Apollo Tubes were the top performers, ending 0.9-2.4% higher.

 

"Metal (index) is facing mild profit booking after failing to sustain above the 13220 resistance zone. But it remains above the 50-day moving average and the important 12707 support level," an analyst at a domestic brokerage said. "Overall, the medium-term structure remains positive, while short-term momentum is turning cautious," he said.

 

The immediate resistance for the index is at 13220, followed by 13930, while the support is at 12708, and 12346 after that. "The 200-day moving average near 11980 remains well below current levels, confirming the stronger medium-term trend. RSI (relative strength index) is around 55, showing balanced momentum without overbought or oversold conditions; however, it has turned lower from recent highs, signalling some loss of strength," the analyst said. Moreover, the recent candles around 13220 show rejection and mild selling pressure rather than a confirmed breakdown, he added.

 

Meanwhile, brokerage Nomura remains positive on the domestic steel sector and believes the industry is well positioned for the first half of the current financial year. This is mainly as price hikes in the March and June quarters are more than sufficient to absorb any cost inflation arising from the war in West Asia.

 

TOP HEADLINES

* Jai Balaji Ind Apr-Jun PAT rises 20.8% YoY to INR 852.3 million
* Nava Apr-Jun consol PAT falls 10% YoY to INR 2.77 billion
* India Ratings withdraws rtg on Vedanta NCDs, ups Vedanta Aluminium Metal's
* S&P Global Energy sees global oil flows at pre-war levels in 4-6 mos
* Mukand Ltd Apr-Jun consol PAT rises 97.6% YoY to INR 573.6 million
* Analyst Concall: Lloyds Metals mulling raising capacity at new steel plant
* Earnings Review: Lloyds Metals' revenue, PAT rise threefold, beat estimates
* JSW Steel Jul consol crude steel production rises 3% on year to 2.40 mln tn
* SAIL says exploring ways to raise funds for capex; QIP, FPO among options
* Hind Copper Apr-Jun PAT up over twofold on year at INR 3.53 billion
* Godawari Power Apr-Jun consol PAT rises 2.7% YoY to INR 2.22 billion
* Hindalco MD says costs will peak in Jul-Sept, to rise 4-5% on qtr
* Analyst Concall: Hindalco royalty for using group brand same as Novelis
* Time to review Hindalco AluChem deal by US panel extended to Sept 2
* Added solar plant capacity at Jalna unit for INR 970 mln - Kirloskar Ferrous
* Govt upgrades Sarda Energy arm to "four-star export house" from "three star"
* Earnings Review: Hindalco PAT up 75% YoY, beats view, amid metal price surge
* Hindalco says costs will peak in Jul-Sept, to rise 4-5% on qtr

 

Following are the resistance and support levels for key metal stocks for next week as per calculations based on their prices on the National Stock Exchange:

Company	Price	Week-on-week  change in %	Resistance	Support
Hindalco Industries	1,029.50	(-)2.80	1,044.70	1,013.80
Hindustan Copper	529.05	(-)1.30	562.00	498.60
Hindustan Zinc	561.90	(-)6.80	582.10	547.70
Jindal Steel	1,091.50	(-)1.00	1,114.00	1,074.80
JSW Steel	1,270.00	(-)2.30	1,285.40	1,252.60
Jindal Stainless	737.85	0.40	745.30	729.90
National Aluminium Co.	376.00	(-)1.30	388.60	368.70
NMDC	84.40	(-)0.60	86.50	82.10
Steel Authority of India	169.51	(-)4.00	179.50	153.70
Tata Steel	183.50	(-)2.20	186.80	178.40
Vedanta	267.50	(-)4.10	272.90	263.80
Index	Levels
Nifty Metal	12941.70	(-)1.90	13093.80	12736.90
Nifty 50	24366.00	(-)0.80	24464.40	24247.60
BSE Sensex	78009.25	(-)0.60	78278.70	77549.60

 

End

 

Reported by Ashutosh Pati

Edited by Shubhayan Bhattacharya

 

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