Metal Stocks Surge After China Rate Cut: SEBI RA Finpire Flags Targets For Tata Steel, Hindalco

The Nifty Metal Index traded near a critical breakout level on Tuesday as sentiment across the metals space received a boost from the People’s Bank of China’s (PBoC) latest interest rate cut, aimed at reviving domestic demand and supporting industrial recovery. 

Given China’s role as a global demand driver for metals, the move has lifted investor confidence in Indian metal counters, which are now seeing renewed buying interest.

According to SEBI-registered advisor Finpire, the Nifty Metal Index retested a significant resistance zone between 9,280 and 9,300. 

A decisive breakout above this band could open the gates for a rally towards 10,220, the next major target.

Among individual stocks, Tata Steel exhibited a bullish breakout above ₹159, with subsequent resistance levels at ₹169.50 and ₹184.30. 

Finpire maintained a positive outlook as long as the stock held above ₹157.

Hindalco was seen reclaiming all key moving averages, with the ₹714–720 zone identified as the next breakout area. A move above this range could set sights on a target of ₹762. The firm noted that bullish momentum was building steadily in the stock.

Jindal Steel & Power also caught traders' attention, having surged past the ₹960 resistance. 

A breakout above the ₹1,009 level would further confirm upward strength. While Finpire viewed the stock as bullish, it cautioned that it appeared slightly overbought in the short term.

Meanwhile, JSW Steel needed to sustain above the ₹1,017–1,020 range to remain in positive territory. A breakout above ₹1,062 would shift the view to more decisively bullish, but the current stance remained neutral to positive.

On the other hand, Welspun Corp was struggling to clear its resistance zone between ₹793 and ₹800. A firm push above ₹822 would be required to confirm a trend reversal. Until then, Finpire described the stock as rangebound.

With global cues turning favorable and several heavyweights showing strength, market participants are closely watching whether the Nifty Metal Index can sustain a breakout in the coming sessions.

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