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NeeteshJain
May 15, 2017 10:08 AM

JSW STEEL - Trending Up (Ascending Triangle) Long

JSW STEEL LTD.BSE

Description

It is been observed on the Daily and weekly chart that the price action is trending up and now forming a ascending triangle on weekly and daily chart indicating buyers control over price action.

Short term: (2-5 Days)

Target 205
Stoploss: 197

Mid-term (1-2 weeks)

Target: 210
Stoploss: 196

Regards

Trade active

Trade active

Trade closed: target reached

Target 1 reached. Regards
Comments
abhinavk31
Neetesh, could you please advice further course of action on this? Can one accumulate at this level?
NeeteshJain
@abhinavk31, It seems to consolidate from here on within the range of 185-210. If it closes below 185 levels that further weakness and it closes above 210 then further bullishness in trend. Regards
SatyamMishra
First target done
abhinavk31
SL hit..what a fall!
NeeteshJain
@abhinavk31, Both Targets met yesterday as the price action touched the high of 209.30 which was close to Target 2. Regards
abhinavk31
Hi neetesh, I entered today at 201 after the stock showed some pullback...hoping for continued upside thanka
dunde_venu
Can you give me intraday entry and exit points, with strict SL
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