JSW Energy Short and Long Term AnalysisFrom couple of day this stock is in bearish . But it takes a support at 407.20 . It's a strong support.
Now this Stock is in Neutral according to technical .
Time Frame Analysis:
1W -2.37%
1M -0.23%
3M -6.25%
6M +38.55%
technical Details As per my view:
Moving Average: (10,20,50,200): Sell
RSI: Neutral
Stochastic: Neutral
Williams Percent Range(14days): -63.53 (Neutral)
Swing or long term Buy Signal: above price 422
Intraday Analysis:
If break 407.20 support with good volume then we can see a good down move of 397.35.
Now price is consolidating between 408.30-412.70 .
Jswenergytips
Elliott wave projection: JSW Steel Trend AnalysisJSW Energy has been forming a downward channel for 22 weeks, and Elliott's projection illustrates the formation of a corrective structure.
Traders can short for the following targets: 289- 278 - 262
The corrective pattern started unfolding after a high of 408. Let's discuss wave formations and the Fibonacci relationship of correction.
Wave ((A)) is an impulse pattern and retraced 78.6% of wave 5.
Wave ((B)) is a double zigzag and retraced 61.8% of wave ((A)).
Wave ((C)) is unfolding its pattern, and it has broken down the descending channel of wave ((B)), which indicates that wave impulsive wave has started.