noellorenzblog

Jindal Steel Weekly Chart Analysis

Long
NSE:JINDALSTEL   JINDAL STEEL & PWR
Jindal Steel Looks very strong on the weekly chart.
Consolidating at the moment and also near bottom area of consolidation.
If there is a bullish breakout then it will complete the handle of Cup & Handle Formation at 294.
And above 294 the momentum of Cup & Handle breakout will push its price to 350-380 region.

DISCLAIMER: I AM NOT SEBI REGISTERED. CHART BEING UPLOADED FOR EDUCATIONAL AND STUDY PURPOSE ONLY.

Comments

From current level 294 is assured , that is correct , extending form 294 to 350 can be understood only after seeing how he moves the price till 294 , if moves weak then again it will enter for one more correction ,
Reply
noellorenzblog I-Fund-Trader
@MoneyRain, Of course...that is why I have mentioned about Cup and Handle Breakout....
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