praveen.bhatiya

JSW STeel Short : Descending Channel & Gap

Short
NSE:JSWSTEEL   JSW STEEL LTD
Price seems to be following the descending Channel . There was a gap down red candle 2 days ago. It has tried to fill the gap today but price got rejected at that level so it may provide a resistance and could be used as Stop Loss. Using all this information we can frame a short trade by risking a small amount the high of today and look for a target of lower boundary of the channel. Risk to Reward would be reasonably good.