BUY JSWSTEEL 192.70 , target 194.50/196/198 , stoploss 191.80
The stock has attempted a breakout from 185 zones 3 times and has reached a stable point, with the good performance of the metal sector, JSW is a long opportunity with a good breakout towards 203.
The set up looks good, with Fib retracement, showing a good RR. SL at 185 and Target at 215
JSWSTEEL Break Rectangle Pattern Resistance in daily chart. So you can take Long Trade In JSWSTEEL Entry Price: 204 Stop loss:201.60 Target:207 & 215
JSW Steel is stood at a very crucial support, price action however, suggests it would be broken sooner or later. Those holding longs should exit and those who want to go short, should either wait for a bounce (See projected Blue line) or should short when the price breaks below the horizontal support line. Once the support line is decisively breached, JSW Steel...
On Daily chart of JSWSTEEL we can clearly seen the formation of Tripple bottom pattern. From the above 190 level stock can be taken for long entry for the target levels as shown in the chart. Stock has broken the zone of 180 and trading above that range. So kindly add the stock in your watch list & check the levels. Always do trading as per your Reward to Risk...
Metal sector is on very critical area if this Resistance breaks than long upside rally will come. Watch out this three metal shares: 1) JSWSTEEL 2) TATASTEEL 3)JINDALSTEEL
Strong rejection is seen from 189 level indicating resistance at the upper range of consolidation. Also the chart pattern under formation is Rectangle. Rectangle is a continuation pattern so the positions can be initiated once price breaks and sustains above 189. Target after breakout will be 204 and 216. Stoploss can be maintained below 162
If it breaks 174 Resistance than target will be 195. Nifty metal is at support area. High probability is on buying side.
Please check on daily chart & wait for the trend line to be broken down level . This can be short @ 170 for the next target of 162 to 155 . On chart trend hitting several times and it clear indicates for break down probability.
NSE:JSWSTEEL See the chart fully and understand if any doubts pls feel free to comment on my view jsw will no be bullish unless this breaks the zone
Follow the chart... My bias Bullish...perfect for swing and positional also
Would buy above 160.5, SL-156.5, Target 165.5 In case if 156.5 triggers first i would go short with Stop Loss-160.5, Target Around- 150
Long Position can be made in JSW steel at a level of 160 (breakout level at 1hr chart) Disclaimer: Idea Published are my own analysis. Please do your own analysis before taking trade.