ONLY FOR EDUCATION TRADE BASED ON 1. PRICE ACTION 2. RSI STRATEGY 3. FIBO STRATEGY
Note: This is for educational purpose only. Do not trade F&O based on this analysis. There seems to be a bullish breakout after tight build up near resistance for 42 days. This signifies that bullish pressure is more and hence, the price did not fall down. Moreover, breakout is is with high volume. RSI is at 69 which indicates bullish momentum but at the same...
Price reached the top as discussed in our previous charts. Now look for sell trade as the price reached the resistance levels. Go with small stoploss after confirming the reversal. If you want to go long then let the price closes above the dotted line then think about going long.
I hope you can now see how JSWSTEEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that...
Rejecting from the top, short. Do not short if breakout.