NIFTY 50 EOD ANALYSIS -10-08-21
IN SUMMARY
Open / High / Low / Close
16274.8 / 16359.25 / 16202.25 / 16228.10
Trading Range Low to High: 141 points
Likely Max Realistic Opportunity @ 50%: 70.5 points
India VIX: 12.71 / +0.79%
FII DII activities: +511 Crores
CHART BASED CONCLUSIONS
Nifty made a higher and a higher low.
This higher high was in terms of the...
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...
JSW Steel had a great run few months ago and was in a consolidation mode the last months. It is now moving towards the upper end of the range and the stock is looking strong to make a breakout. If the stock manages to give a strong breakout, it can have a good rally from here.
buy above 760 in intraday.
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If...
Expecting a good move in this stock as per the breakout and retest.
As per my view Entries can be taken now or you can wait for lower levels around 700.
The company has recently shown good result that is also a positive point for the stock.
![JSWSTEEL: JSW STEEL Big Swing Trade [The Wolf Trade]](https://s3.tradingview.com/m/MBnQZoHk_mid.png "JSW STEEL Big Swing Trade [The Wolf Trade]")
