TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 30 to 50 times.
it is respecting broadening pattern as seen with yellow trendlines it must bounce back now plus it is taking supoort at 50% fibonacci level which is good but if it closes below lower trendline yellow it may go down target given and also might go up target for long also given stoploss will be lower trendline
note: 15 minute candle on closing basis must be used...
Key Levels for JINDALSTEL are : t.me - JOIN TELEGRAM CHANNEL
Upper Breakout~ 146.30
First Target~ 147.45
Final Resistance~ 151.30
First Target~ 142.50
Final Support~ 138.75
Please trade with caution and consult your financial adviser before trading....
The price is clear in downtrend and forming lower lows. Volumes are increased at the bottom and RSI is trading above the Oversold mark. Those who want to prefer an entry at the lower level could try a long here with the recent low as Stop Loss. One can look for a 10-12% retracement move from here.
Disclaimer : All ideas are my personnel view. Please take financial...