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Stock Analysis of JSW Steel.

NSE:JSWSTEEL   JSW STEEL LTD
JSW STEEL – CMP - ₹198. 40 Dt. – 13-07-2020

In 4 hour, chart the stock has made a higher high and higher low pattern. Buying has increased and CCI is in the overbought zone and the price is above 50DEMA in daily chart as well. Estimated return is 8-10% if purchased around ₹200. If the stock broke the upper trendline with good volume then it can give a very good return in the short term.

The metal industry depends on global cues so keep an eye on the news as well.
Trade active: Price fell due to weakness of the global market but the price has taken the support of trend line which is good news.

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