Double bottom Pattern of 2 years
1) Big double bottom formed in 2 years is significant
2) wait for the breakout inweekly time frame
3) Buy above the high of the breakout candle and stop loss below the low of the breakout candle
NSE:JSWSTEEL
JSWSTEEL trade ideas
JSW steel Short termJSW steel looking good for short term
concentrate if at lower dip ..
effective rally will be above 770
jswsteel trade ideaSwing trading ideas
lets, watchout for this stock and see how this trade works out
taking support multiple times,
Buy after breakout of resistance line,
weekly support
JSWSTEELIn the Weekly chart of JSWSTEEL, we can see that it has formed a Bullish candle at last resistance.
Also, 770-780 has been a major resistance and it has been respected multiple times.
Go long in JSWSTEEL if you are planning to enter.
Triangle PatternIn technical analysis, a triangle is a continuation pattern on a chart that forms a triangle-like shape.
Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles.
Script = JSW steel
Time Frame = 15 min
Short JSW Steel to get short Term Target of 650According to the chart pattern it seems to be hit price level of 650 within 3 Months, if it sustain above 730 will go all the way new 52 week high
JSW Steel Cmp 721 dated 27-1-2023 HAMMER @ SUPPORTJSW Steel Cmp 721 dated 27-1-2023
1. Hammer Candle @ Support
2. Good RRR
Buy above 730 for target 745-760-775 SL 710
Disclaimer :
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, please trade at your own risk.
Good opportunity for SHORTJSWSTEEL looks good for shorting but the markets are bullish nowdays. Put it under watchlist. Can go short after retest.Personally taking short position tomorrow itself.
Entry,TGT,SL are at charts.
RR 1:2.7 not bad for a volatile market.(Educational purpose only)
JSW Steel Support BreakdownThe support which was tested multiple times has finally broken,
Entry
we can wait for the breakdown and retest then take a SHORT entry.
Target
Target will be the next support zone.
Stoploss
Above the breakdown candle high.
Please don't forget to like and follow me.
Thank you.
Sell JswSteel Elliot Wave PatternSell JswSteel Elliot Wave Pattern
chart pattern
elliot wave corrective wave
NSE:JSWSTEEL
Double top pattern in JSWSTEELJSWSTEEL
Key highlights: 💡⚡
✅On 1hr Time Frame Stock Showing Breakdown of double top Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breadown target of 724-.
✅Can Go short in this stock by placing a stop loss above 756+ or last swing high.
✅After breakdown this can give risk:reward upto 1:2+.
JSWSTEEL - Opportunity for CE and PEMy Perception & the way I trade:
JSW STEEL ( NSE:JSWSTEEL1! )-- currently trading in close range from previous Weekly High and Monthly high levels.
Also from Harmonics' perspective - possible to test 774-777 levels before any kind of reversal. Which is also 0.786 retracement level.
These levels are also in line with Prev Week/Month high levels.
Add JAN 770 CE, JAN 780 PE to the watch list & wait for levels to cross and sustain.
From the above Futures chart - trading above current and previous months VWAP levels. Also, we can see Wedge breakout and consolidating for some time.
Add to watch list -
If the stock crosses the Weekly high - don't jump in for 770 CE. As we can see around 777, Monthly High may act as resistance.
Once Monthly High is taken off - we can go for 770 CE.
Incase of any reversal - after testing Monthly High and clear confirmation, -- we can consider 780 PE.
Considering Next week will be the Monthly expiry, we will be in the last week from tomorrow. Remember: Option Geeks will be more active this week and also VIX is back to 14.3 levels.
Inverse Head and Shoulder.JSWSTEEL has a supply zone of 745-780. Price is respecting the levels for 20 months. It has also formed an inverse head and shoulder pattern. It’s break out would lead to all time high levels.
Target Achieved in H&S pattern in JSW SteelI posted the Head and Shoulder pattern in HSW Steel 60min time frame and see how beautifully the pattern gave its target.
Enjoy the learning guys...
Long JSW STEEL Keep an eye on JSW Steel is about to break it's previous high. We may get to see a new trend or pattern formation over here.
Points not to miss:-
* JWS steel is near 52 weeks high.
* FII holdings rise by 15.29%.
* Institutional holdings increased by 15.38% this year.
* RSI is indicating price strength.
Shooting StarA shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = JSW Steel
Time Frame = 15 min
JSW Steel (JSWSTEEL) is ready for breakout on weekly chartWeekly chart shows that consolidation period is almost over and its ready for breakout. Trade as per advice from your advisor.
