JSWSTEEL channel breakout + Retest done. Great swing trade it could be......
This stock looks good, if it gives a successful breakout with good volume Levels are already mentioned in chart. - Once given a successful breakout .. it looks good above 710 for immediate target of 735-40 and 2nd target of 770+ and T3 of 800+ Things to remember 1) Always wait for Confirmation, don't just jump in running candle 2) Condition for breakout is...
LEVEL ONE EXPECTED TO HIT 620 WITH SL OF 590 OR WAIT FOR BREAKOUT OF 738 IN DAYS CANDLE FOR ENTRY AND THE TARGET WILL BE 990.
JSW STEEL wait for breakout to buy above 738 level in days candle closing, suggesting a small risk if it reaches 620 level and keeping SL of 594, where you a look for target of 990 in 2-3 mths of time.
Inverse Head and Shoulder pattern formation is seen and breakout and long position if next candle will be bullish
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.
Note: 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₹
The analysis is given on the chart Comment if you have any query and if you like my analysis, don't forget to press the like button. I am not a SEBI registered investment advisor and hence do not follow my analysis blindly. Be aware of what you are trading and the risk associated with it. Stock market is risky and you can lose a lot of your capital. Be wise and...
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...
A very good opportunity at jswsteel. Check for nifty trend before investing. This is for educational purposes, invest at your own risk.