Keshav2329

JINDAL SAW LONG

Long
NSE:JINDALSAW   JINDAL SAW LTD
A multiple breakout of trendlines can be seen on the weekly charts of JIndal SAW. (OPEN AND EXPAND THE CHART FOR DETAILED VIEW)

Firstly, the 7 year trendline, form 2014
Secondly, the 5 year trendline from 2016 (diagonal one)
Thirdly, the one year trend line . from 2020 (THE THINNER LINE)

Volumes too are favorable.
RSI is a bit high, hence retracement can be seen soon till 103-104

I would suggest going long on Jindal SAW for a swing trade. Levels are mentioned below.

Entry: Around 104 after retracement
Target 1: 122-123
Target 2: 140-141 ( Fibonacci Retracement used)

SL- 100.50
TRAIL STOP LOSS

According to Fibonacci Retracement , the stock has broken the major resistance of 102, and is ready to move upwards in coming weeks.

Risk-Reward favorable.

Thanks

FOLLOW IF YOU LIKE IT.
Trade active: The stock reached our entry level yesterday, that is on June 1. I hope all of you have taken entry at that point.

Comments

timeframe for 141
Reply
Keshav2329 RoopaNaveen
@RoopaNaveen, Hi, sorry I didn't get you. Can you please be more clear on your question?
+1 Reply
@Keshav2329, Can you please send me fib retracement chart for this stock on my email? thanks mail: adityasuryan1993@gmail.com
Reply
Keshav2329 Adityasuryancicli
@Adityasuryancicli, Sent, please check. Also, follow if you like the analysis for regular updates.
Reply
Keshav2329 RoopaNaveen
@RoopaNaveen, HI. I assume that you are asking that by when it can reach 141 target. So, ofcourse I cannot be absolutely sure on this, but looking at the charts, I think it can achieve this target in atleast 4 months. Hope I have cleared your question.
+1 Reply
@Keshav2329 thanks for your response. sorry for not being precise in my question.
+1 Reply
@RoopaNaveen Happy to help😊😊
Reply
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