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...
Moving towards up with 130 support level and bull track starts @ Jindal Steel & power in two categories.
* Long for short term traders :
Present market to 152 range target (6%)
* Long for long term investors:
Partial buys, with present market and buy stop level (159). For both levels 188 is target range (30%)
* Crucial range :
152 to 158 will be the...
Trade Idea: Short Jindal Steel below 174.5
1) Price Rejection on break of highs
2) Swift move lower after testing new highs
3) Threatening to break pivot at 175
4) Moving Averages lined up to the head of the candle
For education purpose only
Dear All Members at TradingView ,
Jindal Steel seems good for 220+ in Medium Term !
Entry : Above 183 Rs.
Targets : 187-193-205-220+ Rs.
Stop-Loss : 163 Rs.Or 169 Rs. on Closing Basis
Hope You will like My Idea ; Hit Like Button for Supporting & Comment your view in Comments Section .
Disclosure : I am not A SEBI Registered Technical Analyst !
JINDALSTEEL is in a parallel channel from a long time, it is also forming a smaller parallel channel inside the big parallel channel, I might try to long when and if the price reaches the bottom of the smaller channel, or on the breakout from the smaller channel.