Jindal Stainless is showing a strong Inverted Head & Shoulders pattern on the weekly chart—a powerful bullish reversal setup. Price is currently consolidating near a falling trendline, forming a symmetrical triangle. A breakout above ₹683.45 could unlock a significant rally towards long-term resistance zones.
📌 Key Technical Highlights:
Pattern: Inverted Head & Shoulders
Breakout Zone: ₹683.45
Current Price: ₹691.10
Volume: Consistent during formation, watch for spike
Consolidation Zone: Symmetrical triangle just below breakout
Neckline: Sloping resistance at ₹683.45
Confirmation: Close above ₹700 with volume
🎯 Upside Target Levels:
Target 1 / Resistance: ₹734.35
Target 2: ₹781.90
Target 3 / Reversal: ₹832.80 – ₹881.30
Long Term Target: ₹972.10
⚠️ Downside Risk Levels (if breakout fails):
Initial Support: ₹643.55
Next Major Support: ₹615.50
Trend Reversal Level: ₹587.40
Breakdown Risk: ₹552.70
Collapse Zone: ₹496.60 – ₹449.05
📈 Strategy Outlook:
Watch for breakout candle above neckline with volume
Enter above ₹700 with stop loss below ₹643.55
Add on dips above neckline
Exit if price breaks down below ₹587
⚠️ Disclaimer:
We are not SEBI registered. This analysis is for educational and informational purposes only. Please consult your financial advisor before making investment decisions.
📌 Key Technical Highlights:
Pattern: Inverted Head & Shoulders
Breakout Zone: ₹683.45
Current Price: ₹691.10
Volume: Consistent during formation, watch for spike
Consolidation Zone: Symmetrical triangle just below breakout
Neckline: Sloping resistance at ₹683.45
Confirmation: Close above ₹700 with volume
🎯 Upside Target Levels:
Target 1 / Resistance: ₹734.35
Target 2: ₹781.90
Target 3 / Reversal: ₹832.80 – ₹881.30
Long Term Target: ₹972.10
⚠️ Downside Risk Levels (if breakout fails):
Initial Support: ₹643.55
Next Major Support: ₹615.50
Trend Reversal Level: ₹587.40
Breakdown Risk: ₹552.70
Collapse Zone: ₹496.60 – ₹449.05
📈 Strategy Outlook:
Watch for breakout candle above neckline with volume
Enter above ₹700 with stop loss below ₹643.55
Add on dips above neckline
Exit if price breaks down below ₹587
⚠️ Disclaimer:
We are not SEBI registered. This analysis is for educational and informational purposes only. Please consult your financial advisor before making investment decisions.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.