JSW Steel
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.
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.