Technical outlook on Metal stocks

* Metal stocks are showing an inverse correlation with DXY index in last few months. DXY witnessed a sharp up move from 102 to 109 in the same period NSE metal index witnessed a sharp correction by 35%

* Technical pattern indicates DXY has made a trading top near 109 and is likely to witness a consolidation between 109 to 105 levels. Commodity prices (specifically metal/Aluminium) in our assessment can see 8-10% upmove in quick time (1-month)

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