JSW Steel was making higher highs and higher lows for a few weeks, and has been in a consolidation phase, forming an ascending triangle pattern. It has shown a minor break out of the resistance, and now if it follows through, it can soon cross the 52W high for levels of 810 and 894 respectively. The technicals are also giving a bullish bias for the stock. Please...
LEVEL ONE EXPECTED TO HIT 620 WITH SL OF 590 OR WAIT FOR BREAKOUT OF 738 IN DAYS CANDLE FOR ENTRY AND THE TARGET WILL BE 990.
JSW STEEL wait for breakout to buy above 738 level in days candle closing, suggesting a small risk if it reaches 620 level and keeping SL of 594, where you a look for target of 990 in 2-3 mths of time.
Can short sell JSW Steel LTP: 713 Support: 720 Resistance: 680 DEMA matching MACD and looks like it is crossing over to a bullish pattern. RSI below 50 Immediate trend is down-trend
NSE:JSWSTEEL oversold in daily stochastics RSI = 58 daily breakout from trendline. RSI bullish divergence in 1hr The price action also suggests the pullback is over. Watch above the marked levels on a 15min closing basis
As you saw in my NIFTY BREAKOUT ANALYSIS, IT HAS TO COME DOWN TO GO EVEN HIGHER !!
Acording to analysis JSW steel is in overbought zone as well as all the indicators are giving signal to sell, this prediction is only for 10 may not for the long term. sell at 755 buy at 750,745,740 value will go down on Monday for sure for intraday trade. This info is backed up with various factors.
Monthly TF: Trading nearly at all time high(639) Volumes are high MACD is bullish RSI is having some divergence Previous month candle was a good breakout of nearly 3 year. OVERALL STOCK IS VERY BULLISH. Weekly TF: Nice Cup handle breakout with strong volumes. Trading above all key EMA's (21,50,200) After giving breakout directly crossed 1.618 fib level (586.5),...
It has formed double top on a very short time frame. But the RSI also formed two tops. The second top is lower then the first one which means lesser people tried in making the second top. The tells us decreasing interest in the stock after breakout. There has already been a big rally and we can expect a consolidation in metal stocks soon.
Currently it is having some short opportunities , but the sector is highly bullish and so no big downfall is expected. it can retrace upto 3rd levels of fibonacchi anf strong support in 77-79 zone. And target cant be determined as its has high potential.
its near to all time high( 2018 sep ). wait for breakout. for intra day 09.02.2021 with 2 percent can entry. others wait for 430 breakout
Let's See what happens. Only for educational purpose
ONLY FOR EDUCATION TRADE BASED ON 1. PRICE ACTION 2. RSI STRATEGY 3. FIBO STRATEGY
Trade with the trend here at jswsteel. Place your targets and stop losses according to support and resistance lines drawn.
I will look to sell the stock on a bounce from current levels in areas of 127 to 131 for 121 /114/110/100 targets