Steel on high !! Grab one

Jul 10, 2023

JSW

WHY JSW LOOKS GOOD ? Lets understand.

JW Steel became India's second largest private sector steel company.
The company aims to expand its crude steel capacity from 18 MnTPA in FY20 to 45 MnTPA within the next decade. The company is the owner of single largest steel plant in India with a capacity of 12 MnTPA.

Now looking at the technicals, couple of times stock was facing resistance around 780, it was since 2021. Now eventually after 2 years it has broken out that level, also it seems, stock has retested that level of 780 and is moving upwards. Though the stock is overpriced, I feel it should move upward as it is trading in ATH area with nearest support of 780-783. You can place small SL's around 770-765 and take profit as per your holding capacity.


Kindly note: All trades are for educational purpose, you should trade as per your own analysis.

Jul 24, 2023

Trade closed: target reached

Bought at 807 and exited around 816-818. Will keep this in radar as stock seem to be in good territory