NIFTYMETAL/NIFTY Bounces from 31.8 Fibonacci Retracement Zone

NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.

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