jsw steel W pattern
Updated
A Perfect "W" pattern on 1 day time frame & neckline is at 738 if breaks then 764 target can be seen in coming days then to 747.
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A Upward Parallel Channel on 15minute time frame channel above buy and below sell 10 points target both sides and channel border line as stoplossTrade active
stock falling from past couple of days so trade setup for 12/5/2023 is 705 below 15min candle closes then sell 703.30 1st tgt and if falls further 700-695 level can be seen,sell on rise scenario gap up avoid,-less chance.gap down high probability of fall but wait for a upmove the sell on a negative candle 3-5 point target can be seen.Trade active
Trend on bigger time frame is negative, so trade setup for tomorrow is 693 below 5min candle closes sell for 3 points & if falls further then trail,buying only above 698 on 15 min candle closing basis for 703 tgt.Trade active
746.05 a support so can initiate a buy if price on 15min timeframe takes support.750 below sell 746 target. BUY above 756 for 764 target.
if price stays in between
764 a resistance zone if got red candle getting price rejection there near 764 then can sell for 760-754tgt.
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price moving up in parallel upside channel on 15 min time frame so trade according to the channel if channel low breaks sell if takes support buy, if goes up hits resistance or mid line then can sell for 2 points and if breaks n goes up let it go.Trade active
price can continue the upside momentum if sustains above 796 for 15mins then 800 target then 803.20.if breaks support candle low 791 then 788.45 can be seen then another 2 points fall.
but a high wick rejection can be observed.
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negative scenario & can fall a little more759 above 762.40 target level
753 below sell 751.15 if goes below it then 745.95-748.45 a zone where price can take rejection/support
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773 above 774.10-775.90=1st target then 777 level can be seen770 below 766.65 target level if falls then another 3 points can be seen
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low volume and a doji candle formed but what can we expect a reversal or continuation downside;773 breaks 771 a hurdle then 769.50
780 above 782.60-784.85 tgt level can be seen
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price at good point if breaks 788 then 785.70-785-1st hurdle then 784.40 next stop792.65 above 794-796 target.
mark these zone & trade on level break.
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negative scenario can fall a little if pattern is to confirm then can test 730 level as it is a support and 737-736.80 a resistance price can stay in between NOTE: a inverted pole & flag pattern can form if breaks 730/726 level but a little up then fall for pattern confirmation or
"if double bottom then small retracement then continue up move"
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price retested & going up 753 below 751-749.60tgt758 above 761.40-762 tgt level
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can see a upside momentum a little till 780 level774 below 772.25-771.20 tgt level &
if breaks 777.50 then 779.70-78.40 tgt level can be seen.
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771 above 774.30-776 tgt level can be seen767 below 765.50-764.85 tgt level then 763.40-762 tgt level or trail as per risk reward
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price can continue the momentum but on hourly basis a retracement is needed794.50 above 797 tgt level can be seen then trail and
789.60 below 786.15-785.25 tgt level can be seen
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price is going up & can claim back 840 level if any day closing comes above 828for Monday 812.60 above 815 immediate tgt level can be seen then trail as per risk reward; 808 below 805 tgt level can be seen then trail if falls further.
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if price comes below 820/819 then 817-815.15 tgt level can be seen;824 above 826-826.60 tgt level can be seen then if sustains 829 level can also get touched.
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822.15 below weak scenario 819 tgt level can be seen & if sustains above 826.60 then 829.10-830.02 tgt level can be seenNOTE: IF price trades in between (820-815) level then it can take support & move up or break it and fall further so be cautious at this level. a up move may be seen in 2nd half if opens flat & doesn't break 815 level.
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price is a little bit positive so if price sustains above 857.70 then 859.30-862.90 tgt level can be seen; or trail as per risk reward. 845.75 below a sell trade will get active and it can be of 5 points or more but at times a small up move will come.
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price touched a new high & retracement done & price moving in formation of higher low & higher high so if price goes below trendline at bottom i.e. 844 then 841.50-840 tgt level can be seen if sustains below it then 838 level can be seen tooif price sustains above 852 then 855-859 tgt level can be seen or more up move in coming days can be seen.
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price is positive & touching new high but on 15min time frame price in a parallel channel & near high it can touch or can respect double top & fall 3points of channel 875 a high= 862.20 a mid= 848.80-850 a lowprice if goes up then 875 can get tested if falls from previous day low then mid level breaks sell till low or trail on every 2 points if price goes near low of channel i.e. 850 level can buy very small SL of 848 if sl hit & candle closes below sell for 840 level in a day or two.
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price retracement done & slowly moving up due to global metal sector move/demand so if 861.55 above sustains then 865.50 tgt level can be seen then 867.10 next tgt if price goes below 855 then 851.20-850 tgt level can be seen.
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price can go again to reclaim 52week high level mark 858 above 860-863.75 level can be seen if goes up further trail851.50 below 847.80-846.90 tgt level can be seen.
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price can do 2 things;1: A pull back & then continue upside
2:A Sideways to fall.
872 breaks then 870-868.50 tgt level can be seen it is support & golden ratio zone too if breaks then fall if takes support can go up, if gap up opens then can continue upside momentum but with hiccups
878.45 above 15min candle sustains then can move up to another 3-4 points or if more up goes trail as per risk reward
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price took retracement today & sustained but price is holding the upside momentum so 884 above 888-895.50 tgt level can be seen or more if sustains above it then trail as per risk reward.874 below 872-870.35/869.45 tgt level can be seen.
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price formed a big red candle & it can continue but there's a point where price can reach to form support 820 is that point.836 below 15min candle closes then sell [but if price forms 8-12points then wait for 30mins & trade on 1st candle high/low break &
safe traders can avoid.
841 above 845-850 tgt level can be seen.
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price can come down a little to 815 or more but a up move is needed as points wise SL is big so if breaks 820 then 815-812 tgt level can be seenif price sustains above 824 & 15min candle closing comes above it then 826.70-828.20tgt level can be seen.
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price can come a little down to completely form a pattern till 824 then reverse if gap up & goes up let it sustain above 832 for buying for 3-4 points824 below 820 immediate target can be seen
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indecisive candle formed this can be marked as reversal as price was falling so this candle formed today on daily time frame has a significance of reversal so price can go up from here;830 below price can touch 826.55 immediately & 840 above 844.90 tgt level can be seen.
818.60-820 a support zone & 836.70-839 a resistance= as per spinning candle formed today. price will pause a little then a negative candle then can go up.
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808 a support if breaks then fall till 802/800 level can be seen if price takes support from 808 level or 804 then can buy for 5-8 points tgt level can be seen.Trade active
if price has to go up a small pull back then going up is expected but if straight goes up then it wont sustain the momentum; so 792.65 a support & 800 a immediate level support;800 below 796.30 & price can reverse from here if reverses from flat open then will go for 5-7 points max
805.50 above 808-810.35 tgt level can be seen
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price is weak & can fall further to test 780-770 levels too but a up move then fall for selling will sustain & can give big targets but if 1st 15min candle is big & of 8-10 points then mark its high & low when any side breaks take the trade. if 1st candle forms red & small then price can come down to test 785 level or 780, & 770 level can be seen if small candle forms. if gap up opens near 794 then wait for 30mins & trade on side price is upside levels are 800-804.15Trade active
840 below sell for 8-12 points & 847 above 5-8 points or can try if price sustains above 850 for same 5-8 points.as price is little positive so will give a pull back then will move up.
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side ways & volatile as till price trades in between 790-774/770 level as price is weak on bigger timeframe but mark a rectangular box with above mentioned levels & trade upon breaking, but let price sustain for 30mins the trade.Trade active
price tested golden ratio level & imbalace zone from here it can correct a little or can stay continue upside.so levels are 808.50 above 814.65-820 tgt level can be seen797.80 below 792-790/787.75 tgt level can be seen. as pattern on 15-30mins is like double top so upon neck line break sell & upon head break buy.
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firstly accept my apologies as per analysis price didn't reached the level,& formed a doji candle on 1day time frame so price can hover in a range or can go a little up.so levels for 20/3/2024 are mark high & low of doji candle i.e. 810 high & 793 low
804-792.30=no trade zone trade on side price breaks.
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Price can move up further to touch 52week high level but the hurdles at top & at immediate level so price pull back can be seen, if price takes rejection from 884 level or 885.85 level then price can come down to 880 level then to 876.45 level.for buying if price sustains above 882 upon flat open then 884.70-887.50 tgt level can be seen.
874 below price goes 871.70-868.50 tgt can be seen.
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Price is a bit strong & so if flat open 880 cross then 5-7 points tgt can be seen, if sustains above 890 then can even touch 895 level too.if 870 below price trades then 4-5 points sell tgt [or] wait for 867 break on flat open for 4-5 points, or if price takes rejection from 885/882 level then can sell for 4 points.
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Price is weak & formed a "M" on day chart with a full red candle with strength if any news comes then price can move up or else scenario & price action says price can fall & very little chance of sideways.so levels for 18/4/2024 if price goes below 843 then sell for 835-833 level & trail if price goes more down.
for buying let price sustain above 853.40 for 860.10-863.25 tgt level.
trail if tgt levels meet early & trail as per your risk reward.
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price is negative on day chart & on weekly chart too, if any news comes about metals then only a positive move is expected, so for Monday if price goes below 866 then 862.45-861/860 tgt level can be seen, from here if price reverses then can buy on 2nd support candle for 3 points, or if price goes below 858 then another 3-6 points fall can be seen.880 above 15min candle sustains then buy for 5-7 points.
the above given levels are for flat open scenarios if gap up or gap down opens then wait for 30mins mark 15min 1st candle high & low then trade on side price trades or if at important level or at tgt zone wait for a rejection candle then mark 50% from low then on reversal trade for buying.
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price is ready for a breakout so tomorrow if price sustains above 944 then 948-950 tgt can be seen, if goes up further then trail as per risk reward.if flat opens & falls below 934/933 then sell for 928-926 tgt.
if price goes up a little till 947-948.45/949 level takes rejection from top falls below 942 then sell for 4-5 points tgt.
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935 above price sustains 940-942 level can be seen & if price touches this level in 1st 15min candle then wait for a retest then can go for buy & keep small tgt.920 below 5-8 points tgt can be seen upon flat open.
if gap up or gap down opens then wait for 30mins then mark high & low of 30min candle then trade as per price action.
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price fell from top & near high value rejection so 2 scenarios1) price opens flat near 1/8/24 closing value & breaks low of 1/8/24 then we can see fall till 920-916.20 tgt level.
2)if price opens flat 1st candle forms green on 15min time frame & goes above 938 then price can go up & the fall from top is profit booking & price can form a small candle.
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price on weekly forming a inverted hammer type candle & once 944 breaks price will be weak & will go to test 936.55/932.45 tgt level.
on daily a dragonfly candle formed so 944 below 940-936.55 tgt can be seen & 951 above 955-956.75 or 960 tgt can be seen,
if gap up or gap down opens then wait for 30mins mark high & low then trade on side price goes.
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A hammer type (red) candle on day chart & 52 week high so from here price can reverse or can fall a little then reverse but we are prepared for all scenarios. In short closing value below can sell but 977 below price 15min candle closes then 972-970tgt can be seen,
For buying let price sustain above 985.50 for 989.90-990.30=1st tgt then 994 next tgt level.
If gap up or gap down opens price can be tricky & trade in between previous two days range. So be cautious & trade as per level break or follow 30mins rule of waiting and seeing price action then trading on side price breaks.
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A new high touched and price fell forming a “Shooting star” on day chart, so 1010 will be resistance & price can stay below 1005 level so 985 below 980 tgt, or if flat goes up take’s rejection from 996-995 level then sell for 990-988 tgt level,
987 above a 15min green candle sustains & closes then only buy for 1002-1005tgt level.
If gap up or gap down opens then wait for 30mins then trade on side price goes.
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Price can be tricky so be a little cautious as 985.50 above 988.45-991tgt then if goes up further trail as per risk reward,
977 below sell for 5-7points tgt,
If gap up or gap down then wait for 30mins mark high & low then trade on side price goes.
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1000 support and 1040 a resistance 1030 above 15min candle closes buy 1040tgt if sustains then trail,
1024 below 4-8points tgt can be seen,
As price on day chart formed a red hammer or call it dragonfly dojo candle or dojo candle with long lower wick buy significance is once price opens or trades below closing value of 1/10/2024 then there’s a possibility of fall for 50% of value of previous candle so plan your trades accordingly.
If gap up or gap down opens wait till 12pm then mark hourly range high & low then trade on side price goes
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Price touched a new high and fall 1060 a resistance and 998-1000 a support,
1047/50 above 1060/63 or 1072 tgt can be seen,
1015 below safe traders can sell and 1020 below aggressive sellers can sell but keep strict stoploss,
Gap up 1060 a point from where price takes rejection sell 8-12points tgt
If goes above 1064.45 with a 15min green candle closing then 1070level can be seen,
Gap down opens wait for 30mins then see price action then trade as per move.
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Price flat opens 983 below 980-977.40/975.15tgt can be seen if further weakens than 972.60 tgt is next.
Flat opens 993 above trades fir 15min then 998.55-1001.85/1004.80 tgt can be seen.
If gap up or gap down opens then wait for 30mins then trade on side price goes after marking high and low on 30min candle.
Price in lower low lower high on 30&45min chart for buying a choch=change of character is needed it can be by forming a W or going a little up after flat open then fall then go up, or in a different situation flat and stay inside a range.
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Price is in parallel channel so follow the channel and trade as per it but keep stoploss at a little above/below as there’s price difference so price can form wick.as levels will be same as channel so I’m not giving any levels as just follow the channel and let price close above/below channel on hourly basis then trade on side or trail.Trade active
Those who followed channel might have got good buying trade as price went up above channel, so let’s move on to analysis for 21/10/2024; on day chart price went up formed a green candle and can form another green candle on Monday as per day chart pattern, so flat 998.50 above sustains then 1000.25-1001.40=1st tgt then 1004.65-1007.80 tgt or even 1010 level can get tested, but we need to be a bit cautious near 1000.55 level if flat goes up takes rejection near and below 1005 in 1st 15min candle and by 9:30 then we can see a fall till previous day closing value.
Flat goes down 991 below 985-982 tgt can be seen,
There’s a possibility of price sharply moving on any side on 30&45min chart and this could happen in 1st 30-45mins, or may not happen and scrip will move up slowly by forming small candles.
Gap up or gap down opens 45 mins wait then mark high & low then trade as per price movement.
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Price is weak but there are 2scenarios that can happen 1)\/\/ on hourly chart and day chart & 2) |/\ this pattern can form,
so 980/979 below candle closes then sell for 973-971.50 tgt level,
Flat goes up 988.75 above 998-1000 tgt level,
If gap up or gap down opens then wait for 30mins mark high & low then trade on side price goes.
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Follow the chart pattern as lower low and lower high formation and price could reach 945 level,
So flat opens 960 below 955-950=1st tgt then 945/944.30 tgt can be seen, if goes down further trail as per risk reward,
973.10 above a proper green candle on 15min time frame closes then buy for 980-984.60 tgt.
If gap up or gap down opens then wait for 30mins mark high &low then trade on side price goes.
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Those who have followed the chart might have got good sell trade & price on day chart price formed a red candle on day timeframe with buying came in 2nd half so 961 above price trades then buy for 965-969 tgt if goes above it another 5-9points tgt can be seen,
Flat 943 below candle trades for atleast 15min with a red candle small or no wick at bottom of that candle sell for 936-932/931.55 tgt level.
If gap up or gap down opens then wait for 30mins mark high & low then trade on side price goes.
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