JSWSTEEL, 1HInverse Head and Shoulder pattern formation is seen and breakout and long position if next candle will be bullish
Jswsteelong
JSW Steel Weak
It has formed double top on a very short time frame.
But the RSI also formed two tops.
The second top is lower then the first one which means lesser people tried in making the second top.
The tells us decreasing interest in the stock after breakout.
There has already been a big rally and we can expect a consolidation in metal stocks soon.
JSWSTEEL - Hammer at supportNote: This is for educational purpose only. Please do not trade in F&O.
20 EMA seems to be acting as dynamic support for JSW Steel. There seems to be a hammer formation at 20 EMA. Expecting a bounce back from here.
SL: 385₹
JSW Steel Long!The analysis is given on the chart
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JSW STEEL - Ascending triangle bullish breakoutNote: 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 time it is nearing overbought zone. Hence, there might be a slight pullback/ side ways movement before the next upmove.
13 JULY INTRADAY @ JSWSTEELA very good opportunity at jswsteel. Check for nifty trend before investing.
This is for educational purposes, invest at your own risk.
