Jsw Steel as formed reversal pattern on monthly graph go short @1646 and targer 1331 stock gone very slanted upward it will also give sharp down wish u happy trading enjoy this trade
It is been observed that the price action has previously breaks out from a channel as shown in Tata Steel chart (link given below) and then retrace back to the previous channel trend line, forming a V shaped signaling completion of retracement and now the price action shall further move down toward 1660 target levels. Risk/Reward: 1/5 Target1: 1660 Stoploss: 1800
The price action on hourly charts indicates that there is high selling pressure that has broken out from preceding diagonal pattern. It simply indicates weakness and dominance of sellers. Target 1: 1668 (i.e. Fibs retracement levels of 0.382) Stoploss: 1840
The stock stills holds the trend. No congestion so far. If channel holds tomorrow one can enter again.Breaking the channel is the only concern as of now
It is been correcting for a while under the downward trendline, Yesterday it broke out from that trendline and now we shall see a rally up to the level of 51. Target 1: 51 SL: 46.50