It is been observed that the price action breaks above the important and strong resistance levels on daily chart indicating a buyers coming back and charging up and also taking control over price action. It shall further move up from current levels.
Target 214
SL: 208
It is been observed on the Daily and weekly chart that the price action is trending up and now forming a ascending triangle on weekly and daily chart indicating buyers control over price action.
Short term: (2-5 Days)
Target 205
Stoploss: 197
Mid-term (1-2 weeks)
Target: 210
Stoploss: 196
Regards
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
JSW Steel Limited is a holding company. The Company is engaged in the business of production and distribution of iron and steel products. Its segments include Steel; Power (used mainly for captive consumption), and Others, which includes cement, mining and construction activities. Its product portfolio in flat and long steel products includes hot rolled (HR) coils, sheets and plates; cold rolled coils and sheets; galvanized products; galvalume products; non-grain oriented electrical steel (CRNGO); pre-painted galvanized products (color coated sheets/coils); pre-painted galvalume products; wire rods; special steel bars/wires; rounds and blooms, and angles. Its color coated products include JSW Pragati, JSW Colouron and JSW Colouron+. Its galvanized products include JSW Vishwas and GALVOS. It has plants in over six locations in India, including Vijayanagar in Karnataka, Salem in Tamil Nadu, and Tarapur, Vasind, Kalmeshwar and Dolvi in Maharashtra.
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JSWSTEEL
