JINDALSAW - Potential upside


Jindal Saw - manufacturer and supplier of iron and steel pipes and pellets. Manufacturing facilities in India, US, EU and UAE.

If you trade based on Moving averages or indicators -- currently stock is trading above all - in the green zone on Daily, Weekly, and Monthly time frames.

Yesterday crossed the yearly high and possible to move further upside

If sustains above 127, we should see 144 and further upside with the current momentum.

On Weekly time frame :

The current price crossed 61.8% retracement . If we observe the last week's market conditions, even during turbulence - the stock managed to show upside momentum and closed on the positive side.

Also looking at METAL INDEX - The Bounce from the current support level in the index - also should help in keeping the upside momentum in JindalSAW .
Add to watchlist -- trade as per your analysis.


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