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JSW ENERGY LTDJSW ENERGY LTDJSW ENERGY LTD

JSW ENERGY LTD

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JSWENERGY trade ideas

JSW Energy Ltd.- Up-Flag on DAILY chartJSW Energy is in an uptrend. During this uptrend the counter went into the consolidation from 11th May 2021. The consolidation was preceded by an impressive up rally. The price gave an upward breakout to the consolidation on a daily chart on 1st June 2021 and closed at Rs.126. This breakout has a massive volume support. I anticipate the price target of Rs.156. This price target is expected to be achieved in around 13-18 daily candles. I suggest the stop loss at Rs.120. The risk-reward ratio is 1:5. The stop loss should be followed for the first 4 daily candles. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier. NOTE: This idea is an attempt to predict the future price movement. Investment based on this idea, if any, shall be at the sole risk of the investor.
NSE:JSWENERGYLong
by ShriramN
JSWENERGY for Swing Or Short Term Trade. A long view.NSE:JSWENERGY JSWENERGY Successfully clear the supply are of 78-98 on weekly chart and looks strong enough for short term trade. Let’s see what happened on the chart. On the week of 28th September 2015 we have seen breakout to level of 78 but efforts to breakout to 98 are strongly failed as due to the good supply prices rejected for 97 and candle of that week close near the low or better to say near its midpoint. For the next few weeks though prices keep churning in the area of same candle and finally in the week of 2nd November 2015 (Marked with blue up arrow) we see the strong bearish candle closing near its low. All this price behaviour indicates seller are strong and whatever buying was there is defended by strong sellers. Now move to the point 1 where we see efforts for breakout to the level of 78 but prices not manages to go through that level rather keep churning out in a range and then we again see the breakdown (Marked with up arrow) to the range of point 1. Moving further we will now see point A and B observing both candles together any one will it is good breakout to the level of 78 and JSWENERY definitely going to breakout to the level of 98 too. On 8th of Jan 2018 though we see bullish candle forming a wick, we will say there must be some traders who were stuck in this counter from the long time and may see some chance to get out and hence for now one can ignore that wick and stay bullish here but see what happened on very next candle we see bearish candle which not managed to close near its low which is still indicating that bulls have a strong hands here. But on the week of 22nd of Jan 2018 (Marked with Blue up Arrow) we see good selling all the week, candle also managed to close near its low, and from this point prices fall and breakdown the level of 78. All price movement we have talk from the week of 8th Jan 2018 and vanishes all the efforts we see on point A and B. But at the same time prices are not manages to move further below the level of 50 which was last low point or swing low for the high for the week of 8th Jan 2018. And prices move sideways from there. After a sideways trend at point 2 we are again seeing efforts and failure for breakout to the level of 78. And this failure took prices towards good downtrend till 34. Which simply mean that 78 is strong resistance for JSWENERY, also we can’t neglect the resistance of 98 too. From price point of 34 prices started to move up again. In the week of 1st march 2021 we see strong efforts to breakout for 78 with even strong price rejection as profit booking may come in as prices are reaching near the high point of supply zone of 78-98. On next four weeks prices keep trading the range of week of 1st march 2021. But now lows are seems to be caped and we also seeing good tails of few candles. Results of which candle of week of 5th April 2021, strong bullish candle giving a strong closing above the 98. For the first time since 28th September 2015 we are seeing the prices closing above 98 with candle having good range and candle closing prices near its high no efforts at all from sellers this time. This indicates bulls finally have a strong hand in JSWENERGY. We may see strike through for the level of 115 which is also a lifetime high of JSWENERY because of less presence of sellers and strong hands of bulls. Level of 78 will now become a strong support for JSWENERGY also a stop loss level for swing traders and short term investors. || Hari OM|| || Om Sai Ram ||
NSE:JSWENERGYLong
by PriceVolumeRider