nano6yogesh

JSW Steel - Topped out ?

Short
NSE:JSWSTEEL   JSW STEEL LTD
JSW Steel NSE:JSWSTEEL has been very strong and came out with a good set of numbers.

However, it has been struggling around 333 since many days.

Now that the result is out, profit booking seems to have started kicking in.

I can see a divergence here with a large bearish engulfing candle that it formed today.

Good opportunity to go short with a stop loss around 345 for a target of around 306.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.

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