Kalyani Steels after achieving the target of 1179.50 exited parallel channel and held support at 700 range. Bullish reversal happened at 704.20 (mar 3) and bullish reversal confirmation at 721 (mar 17). Dec 17 '24 ATH to Mar 3 '25 precisely 44.86% fall as anticipated. Now price chart in daily timeframe showing double bottom with inverted hammer (Mar 19) along with RSI double bottom breakout. Weekly chart piercing line (i think) candlestick pattern along with RSI +ve divergence.
Note
Government proposed a 12% safeguard duty on certain steel imports.ndtvprofit.com/markets/tata-steel-jsw-steel-lead-sector-rally-on-likely-safeguard-duty-on-imports
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.