JSW STEEL – CMP - ₹198.40 Dt. – 13-07-2020
In 4 hour, chart the stock has made a higher high and higher low pattern. Buying has increased and CCI is in the overbought zone and the price is above 50DEMA in daily chart as well. Estimated return is 8-10% if purchased around ₹200. If the stock broke the upper trendline with good volume then it can give a very good...
Overall sentiment - positive, bullish.
NO GAPS TO FILL DOWNSIDE.
Near crucial resistance level, upper previous gaps can be filled in upcoming days. A small retracement or profit booking can come in this week.
Support and resistance levels given
#TataSteel @ 346 | TGT: 374 | SL 330
- Usually, 'Cup' is always with a 'Handle' but here the story is with another pattern i.e. 'Cup & Triangle'
- Watch for chart story
#Nifty #Nifty50 #banknifty #steel #NiftyBank
I have a long bias on CNX METAL.
JSW presenting another good opportunity. The price has been making higher highs and higher lows, as shown on the chart, it is current at TrendLine 1, the price has been in the same range for a long time now.
I am expecting a trend line breakout towards Trendline 2 from the current levels. If the strategy fails, keep a...
- trading near Channel support
- if broken then next support at 178-175 zone & major support 168-166 zone
- resistance at 196 / 202 / 208
Given the set up one may consider selling 170 Put option between 5-5.5 ( CMP at 5.20)
Lot size 2700
Max profit potential Rs 13500 - Rs 14850/-
Yield potential 10% - 11% on capital
Loss if JSW steel...