JINDALSAW - Expected Breakout from long consolidation Zone , 200 EMA has been sucessfully retested. If this is supported then there is high chance of up move and this stock can breakout to new highs.
looking at other metal stock it looks good in short term
JSAW DOWNFALL, LIKE & FOLLOW FOR CONTINUOUS UPDATES.
with stoploss can go long. taking support at previous low.
1. ENTRY : 86.15 ( Closing above the neckline ) 2. Minimum Price Target : 102.80 ( Adding the difference between highest high made and lowest low during the formation to The Neckline ) 3. Stop loss : 70 (Usually, price closing below the second bottom is a stop-loss.)
Pellet prices are at multi year highs...should help Jindal saw substantially. First shared around Rs79...could easily continue to 100+
If it can sustain the breakout, next stop could be 200EMA. Discussed this stock last week as well when the price was Rs. 79.
Buy - 88 CBSL - 82 Target - 101 Jindal Saw had a descending channel breakout recently, It is on the verge to break the Double Bottom. Go long if it breaches previous day high. As per Fibonacci(Weekly Chart), it may retrace till 101.
NSE:JINDALSAW BSE:JINDALSAW Disclaimer... Invested, not an investing/trading recommendation My thinking process has been described and plans following
NSE:JINDALSAW 1.maintaining the long tendline support and also the median pink line of the pitchfork 2.Bullish reverse divergence on RSi 3.Red levels mark the weekly resistances, blue is the pivot and green level is the resistnce 4.the last time the bullish divergence fuelled the price upwards to be halted by the blue 618line of the pitchfork, likely to be...
Robust indicator positions at trend line resistance. it all started with small move. we caught it at 74.
JINDAL SAW LOOKING GOOD WITH VOLUME AND FORMED CUP PATTERN.
Stock has retrace from its breakout level i.e. 107. My concept is when stock is retesting its breakout level and didn't go down from that level then it is true confirmation for positive up move. Considering this theory i would i to enter in stock at cmp 117 for long term.
may be its just me or maybe its the bull market. Expecting a 5-7% up move in a few days, Will wait to c the RSI turn and candle touching the bottom BB and bounce up !!
Jindal Saw Ltd: ₹73:90 is trading in an up trending channel,currently at support. This Projectile is having a target ₹104 in two months, Stop: ₹72 Let us see how it will evolve in to coming days.