On Daily TimeFrame, JSWSTEEL given breakout of falling wedge pattern. After this breakout it indicates some retracement upto breakout level in last 2 days trading session. Expected it will reversal from this level and continue it's breakout rally towards the projected target 725 and 775+ in upcoming trading sessions. Can Go long above 670 for this targets.
Hello guys hope you are doing good today, in yesterdays post I asked you guys to short TECHM and it ave a good profit in nitraday as it fell more than 40 points and target 2 was hit. Same case with WIPRO, all I.T stocks looking weak.
Now speaking of this script that is jswsteel I see that there has been a breakout with good volumes, this once tries to give a...
As per the 1 Hour Chart of JSW STEEL, we can see a beautiful Formation of "Bullish Harami" on the downside levels of the stock. Therefore, we are expecting a bullish momentum in JSW Steel in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 662.25, 670.35, and 678.55. Whereas, on the other hand, on...
> We can Buy If Price Sustain Above 700
> 1st TGT is 780
> SL If candle closes below 665 (Only after We entered above 700 with Confirmation)
>Support will Become Resistance and Resistance will become Support once the level Breaks.
*Always Enter With good confirmation & Maintain proper Risk Reward.
**********Educational/information purpose only **********
JSW Steel is on the edge of his support trend line below @ 640 level, hope that on Monday it will break it's support level because We had seen a breakdown of Trend line on Nifty metals during the last trading day. Just refer my another idea related to Nifty Metals for more information about that breakdown level.
1) On 1 day time frame, it just closed below 50DMA. 50DMA is placed at 693.46 level.
Also we can see that critical resistance at 700 level.
And as per OI data, major call writing is at 700 level.
Sustainable breakout of the same will lead to short covering and can give good bullish upmove.
Please refer below chart : 1day Time...
JSW price rose with good volume participation in today's session. The setup is based on the XABCD bearish butterfly pattern.
Go long if the price sustains above the breakout level.
The stop loss, breakout, and target levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
JSW Steel 1D Time Frame Analysis
- Price has already broken his ascending channel and give a huge rally of almost 300 within 2 weeks
- Now moving in this range for the last 3 months
- we can see a possible round bottom pattern here
- There is resistance at 750 zones and we have good support from 650 levels
- Completing Round bottom would push this to 850-900...
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👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are...
Trading ideology and some important key points to rem : ( Have a good trading session guys )
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