After a big rally of more than 100 rupees from 21 October - 2022 to 14 November - 2022, JSWSTEEL has faced resistance and started moving down.
As we know that this counter is in a big consolidation phase (accumulation or distribution) after it reached its all-time high of 771 which this counter tried to break twice at 776 and 790.
The given channel can be considered and any breakout above the channel can further move to the same level of resistance ((731.40) and upon breakout of the said level it can move till 764.75/776 and further it can reach its highest level 790.
This Scrip looks good to me for investment.
*The views are personal and not a recommendation of buy or sell. Please contact your financial advisor before taking any decisions*
As we know that this counter is in a big consolidation phase (accumulation or distribution) after it reached its all-time high of 771 which this counter tried to break twice at 776 and 790.
The given channel can be considered and any breakout above the channel can further move to the same level of resistance ((731.40) and upon breakout of the said level it can move till 764.75/776 and further it can reach its highest level 790.
This Scrip looks good to me for investment.
*The views are personal and not a recommendation of buy or sell. Please contact your financial advisor before taking any decisions*