JSW STEEL- Bull run 2.0?We have seen an amazing bull run in JSWSteel during the metal sector rally of 2020-21.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks , it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
Jswsteeltechnicalanalysis
JSW Steel breakout and retest is done. JSW steel has given a break out of the inverted head and shoulder and has also retest the neck line on the weekly charts.
The stock has formed a resistance around 830-835 levels and once these levels are cleared it can given good targets.
Positional and swing trades should be created only when the resistance zone is cleared on the weekly charts.
Levels and targets are marked on the chart.
Stock can also be purchase in cash for a longterm bet as the market are bullish and the stock can travel with the waves.
Levels to watch
Break out level :- 835
Support to accumulate stock :- 775-780
Watch for the weekly close as tomorrow it friday. The stock has given a fall for last three days and if it starts to run there will be a good opportunity as it is standing at 50 % fibonacci levels.
Looking Good - On a way to New LTHHi All...
Greetings!
Today I'm sharing you JSW Steel Weekly Chart. it has been seen that JSW Steel has been continuously taking resistance from 773 levels.
In last week of July 23 it finally gave a breakout and last 2 weeks of August it tested the same 773 level which will now work as a support.
I'm hoping JSW Steel will keep on making new LTH now....
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JSW steel| 2 year resistance zone breakout with inverted H&S.JSW steel has been respecting a resistance zone around 780 levels from May 2021 and has finally given a break out.
Is stock going to carry the bullish movement or break out is fake out??
The stock has given a close above the levels on the weekly time frame and at the same time the gravestone doji is creating a confusion of stock gaining some positive momentum.
On the weekly charts, a clear inverted Head and shoulder pattern is there. It has been consolidating for last 3 weeks at the higher levels. A 'W' pattern is also there.
But the RSI indicator is losing strength as there is a bearish divergence in the stock.
The daily charts has respected the 20 ema and is consolidating in a box above the resistance zone. The stock is taking a halt at the higher levels.
The chances of a retest is high as the indicator predicts. It can be bought at the lower levels for a 20-25% ROI in 3-4 months.
Buying levels :- 773-780, 810
Target :- 970-1000
Time frame :- 3-4 months.
The stock has respected the zone many times and given a break out. It will retest the zone as there are multiple confluence i.e. fibonacci levels, fixed range volume profile, moving average.
Wait for the stock to retest and form a price action near the levels.
JSW steel at interesting levels 05/06/23.JSW steel on the weekly charts has been consolidating in a range and trading around the 20 ema.
The stock has taken support from 0.618 fibonacci level but unable to close above 0.382 levels. It is consolidating in the same range.
Stock can give either side movement and is currently trading near the resistance levels.
On the daily time frame, the stock is trading around 20 and 200 ema. The moving averages are close enough.
There will be a confirm long or short trade as moving averages will also be giving a break out or down.
Intraday and swing trades can be initiated if the stock starts trading outside the box.
Wait for the price to retest the break out or break down levels. Swing trades are there on the charts.
Must watch for a price action near the levels before entering the trade.
JSWSTEEL LEVELS FOR MONDAY - 24-10-2022Important JSWSTEEL Levels ( Support & Resistance ) for Monday Market- 24-10-2022.
Disclaimer:
I am not SEBI Registered Analyst, This Channel Videos are 100% Education Purpose Only, Myself or my Channel Not Responsible for Your Profit/Loss, Please consult Your Financial Advisor before trading/investing on share market.
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 At resistance NSE:JSWSTEEL
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
📌 check out recent post :-
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
JSW Steel Ltd. Chart Analysis !!📈 JSW Steel Ltd. 📉
Today broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 760.
StopLoss should be kept at close below 660.
It offers 1:1 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
EXPECTING TO WITNESS A BULLISH MOVE IN JSWSTEEL 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 the downside levels, the stock may face a support at the level of 652.30, on closing basis. Closing Price (as on 21.12.21) : 658.50
Disclaimer: No financial information whatsoever published here, should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for Educational and Information purposes only and under no circumstances should be used for making investment decisions. Viewers must consult their personal financial advisor before making any actual investment decisions, based on information published here. Any Investor or Trader taking decisions based on any information published here, does so entirely at its own risk. Investors and Traders should bear in mind that any investment in Stock Market is subject to unpredictable market-related risks.
JSW Steel Pattern Breakout (Bullish)> 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 **********
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JSW Steel is on the edge of Support Trend lineJSW 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.
Simple Trade Setup | JSWSTEEL | 18-10-2021 [INTRADAY]NSE:JSWSTEEL
Observations:
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 Frame.
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Trade Setup for Date 18-10-2021:
Most of the levels will remains the same as per previous setup.
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.