JSWSTEEL trade ideas
JSW Steel Ltd. Chart Analysis !!📈 JSW Steel Ltd. 📉
Today broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 760.
StopLoss should be kept at close below 660.
It offers 1:1 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
#JSWSTEEL- Short term idea#JSWSTEEL- Short term idea
CMP - 721.35
Can be looked in the range of 670 to 685
OR
Only Above 730
Next Levels can be expected 740,760 & 770
View will be negated below 635
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
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JSW Steel Ltd.JSW Steel Ltd.
JSW Steel Ltd is an Indian multinational steel-making company based in Mumbai and a part of the JSW Group. After the merger of ISPAT Steel, JSW Steel became India's second-largest private sector steel company. The current installed capacity of the company stands at 18 MTPA.
JSW's history can be traced back to 1982 when the Jindal Group acquired Piramal Steel Limited, which operated a mini steel mill at Tarapur in Maharashtra and renamed it as Jindal Iron and Steel Company (JISCO). Soon after the acquisition, the group set up its first steel plant in 1982 at Vasind near Mumbai. Jindal Vijayanagar Steel Ltd. (JVSL) was set up in 1994, with its plant located at Toranagallu in Ballari, Karnataka, the heart of the high-grade iron ore belt and spread over 10,000 acres (40 km²) of land. Located 340 kilometers from Bangalore, it is well connected to both the Goa and Chennai Port. In 2005, JISCO and JVSL merged to form JSW Steel Ltd. The JSW Ballari plant is the world's sixth-largest steel plant.
TECHNICAL ANALYSIS.
Time Frame - 1D
1. Stock gives the breakout of lower high lower low.
2. Next resistance is near 770.
3. Supertrend is positive.
4. Alligators are in uptrend.
5. Stock trading above 20/50/100/200 DMA.
FUNDAMENTAL ANALYSIS.
SECTOR: Steel & Iron Products
1. MARKET CAP - ₹ 1,74,366.20 Cr.
2. P/E - 9.64
3. P/B - 2.84
4. ROE - 19.75 %
5. ROCE - 16.89%
6. EPS - ₹ 74.81
7. CASH - ₹ 11,746 Cr.
8. DEBT - ₹ 49,000 Cr.
DISCLAIMER - All analyses are for educational purposes. it is not trading or investment advice.
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JSW Steel (Detailed Weekly Analysis)JSW Steel (Weekly):
1. As Nifty Metal has given Breakout on Weekly charts, JSW Steel (which constitutes to be almost 14% of Nifty Metal) has also given a Flag and Pole Breakout.
2. Stock has given breakout after almost 300 days
3. Upper Bollinger Band on Weekly Charts is challenged
4. Also there is Positive Crossover of 5,13 Weekly Exponential Moving Average
Note:
1. The above analysis is for educational purpose
Continuation of multi year breakoutFrom April 2020 stock has been in uptrend and it has been supported by increase in steel price due to steel commodity super cycle. Since May month stock has been consolidating in a channel and Forming Flag, Currently stock has given fresh breakout from a channel. at current level if stock consolidates for few days above upper level of channel then it would be considered as breakout and retest any upward momentum from there would give confirmation of Bullish Trend. NSE:JSWSTEEL
JSWSTEELJSW Steel Limited is a holding company engaged in the business of production and distribution of iron and steel products.
Current price is less than the intrinsic value
Stock doesn't offer attractive dividend returns
Low probability of default in next 12 months
Stock has been generating better return on equity than bank FD
PE Ratio 19.95
Largecap
With a market cap of ₹1,57,799 cr,
Over the last 5 years, market share increased from 12.22% to 15.78%
Over the last 5 years, debt to equity ratio has been 155.59%, vs industry avg of 171.39%
Over the last 5 years, current ratio has been 79.64%, vs industry avg of 79.42%
Stock is 2.39x as volatile as Nifty
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
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#JSWSTEEL - Downtrend channel #JSWSTEEL
Downtrend channel
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
Please like and retweet if you like this idea.