JSWSTEEL
Jsw why it is not a downtrendNSE: JSWSTEEL
Time Frame :- 1 Day
Patterns Name :- Ascending Triangle
Conclusion :-
A Ascending pattern which is a Bullish Pattern and a signal before the Uptrend which most probably shows up a Up trend .
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Based on Your Own Risk this is only to Show you the Current Pattern
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Have a Nice Day to you all
JSW Steel enjoy before the storm beginsNSE: JSWSTEEL
Time Frame :- 1 Month
Patterns Name :- Double Top
Conclusion :-
A Double Top pattern which is a reversal and a signal before the downtrend which most probably shows up a down trend .
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Based on Your Own Risk this is only to Show you the Current Pattern
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Made By MAYANKTECHRESEARCHING
JSW STEEL AnalysisGaps pending
Downside: 552.50
Upside: 602
Supports: 571/566/559 & 552.5
Resistances: 576.9/583.25/593.9 & 602.95
Conditions applied:
Con 1: If we witnessed Gap up opening nearby 583.25, Wait for breakout & then take long position accordingly with the given levels.
Con 2: If we see sideways opening, then need to watch Volume & OI & then take position.
Con 3: If we witnessed Gap down opening, Wait for support breakout in 15 min candle then only go with short positions.
Note: OI & Volume to be considered in all the trades.
JSW Steel forming double bottom.JSW steel is taking support from its bottom and simultaneously forming a bullish pattern (Double bottom). After a strong breakout of 558 you can plan to go long for a swing trade . Place stop-loss logically and targets according to your analysis (Suggested Target : T1 600 / T2 640).
JSWSTEEL AnalysisJSWSTEEL is trading in Descending Channel from the last 1 year, however we did see a breakout above the channel on 17th Marth 2022. Post that price rallied up till previous resistance of 770 and faced selling pressure which pushed price again inside the descending channel. Currently the stock is trading near channels lower level with immediate support at 520 and resistance at 570.