The Nifty Metal Index fell by more than 5%, the biggest one day fall since 4th May. Biggest looser includes Jindal steel and power followed by Sail, Hindalco and Tata Steel. The Nifty Metal index is trading near the important support range of 2200-2189 as well as near a 6 month old trendline support level. Going forward, if the mentioned support level is taken off, then we can see a sharp correction in the Nifty Metal Index. Thus, for some time, it would be better to** stay away from Metals space.**
