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Sniper-Traders
Apr 12, 2024 7:36 AM

JSWSTEEL : Booked a profit of 12.13% on the invested capital Short

JSW STEEL LTDNSE

Description

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I've decided to close my position and lock in profits as the price has reached a key inflection level. I'll be keeping an eye out for a potential re-entry if the price dips back down to the lower trendline of the higher timeframe parallel channel.

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If my perspective changes or if I gather additional fundamental data that influences my views, I will provide updates accordingly.

Thank you for following along with this journey, and I remain committed to sharing insights and updates as my trading strategy evolves. As always, please feel free to reach out with any questions or comments.

Other posts related to this particular position and scrip, if any, will be attached underneath. Do check those out too.

Disclaimer: The analysis shared here is for informational purposes only and should not be considered as financial advice. Trading in all markets carries inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and assess your risk tolerance before making any investment decisions. The views expressed in this analysis are solely mine. It's important to note that I am not a SEBI registered analyst, so the analysis provided does not constitute formal investment advice under SEBI regulations.
Comments
pthukral58
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Smart Decision to Book the profit today. It's ready for the downmove now
Sniper-Traders
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@pthukral58, Yeah. Actually I did it yesterday itself. But couldn't update since I was a bit busy.
pthukral58
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ya but the downtrend has just started today
Sniper-Traders
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@pthukral58, Mm. True. That is a clear rejection zone na. Price did retrace from those levels aggressively in the past too. Moreover, the fundamentals of the company also doesn't favor this high a valuation, in the current market scenario.
pthukral58
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even tata steel is ready for the downtrend as per my analysis
Sniper-Traders
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@pthukral58, Oh. Is that so? I don't have position in that, as of now.
pthukral58
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can't find
pthukral58
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can you send the link here
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