JSWSTEEL trade ideas
Chart of the Week: JSWSTEELJSWSteel had a brekout and started to rise. As per Gann theory, it has entered into a new orbit and as per ElliottWave theory, first wave on weekly time frame is started being developed. From March 2013 to Aug 2018, in 5 years it climbed from low 45 to 425. Similarly, from its low of April 2020 of 132 and by approx 2025 - 2026 it may rise upto 1300-1400.
This is being unfolding as a multibagger stock, without any Stop Loss buy and hold for at least 6-7 years.
JSW STEELIt has reversed from a Bearish Harmonic Alt Shark which could see a retracement till 318/310/300. The view would negate above 332.
Harmonic Trading Patterns are derived from Fibonacci ratios which create various patterns indicating reversal/retracement of trend in the time frame spotted.
[Buddha] JSWSTEEL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Stock Analysis of JSW Steel.Price - ₹309.35 Dt. - 03-11-2020
Price faced resistance at ₹328 before 2 weeks and today the stock took the support at ₹304. 21DEMA is placed right below the support line. It looks like the stock is ready to move above till resistance line giving the profit of around 6-8% profit. If starts moving downward it can go up to 50DEMA. RSI is neutral.
A Reverse head and shoulder pattern is always strong !!!!!Disclaimer : This analysis is being put for educational and entertainment purposes only, any trade or positions taken on basis of this analysis is to be based on your analysis and thinking.
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swing buy setup on JSWSTEELONLY FOR EDUCATION
TRADE BASED ON
1. PRICE ACTION
2. RSI STRATEGY
3. FIBO STRATEGY
#LETSTALKABOUTMARKETS - JSW STEELThe stock has rallied almost 33% in the last 2 months, there needs to be a correction or consolidation phase. One needs to be cautious not to enter long at this point as technical indicators suggest a short set up.
1. RSI negative divergence - The price is increasing at a very fast pace but the strength index is not following the path as indicated in the chart.
2. Bollinger Bands - The stock should close below the Bollinger band and might drift towards the average line.
One can take a short set up with a strict Sl at 333 with a target of 300. This is purely for educational purposes.
JSWSTEEL Analysis for IntradaySee the chart for levels and targets. Watch the candles for breakout.
Trade with stopless.
Are we suprorised with the correction in JSW Steel?It was clearly overbought. Still, fundamentally a great company. Could be an option to accumulate at the bottoms.
JSWSTEELA break form the current levels , stock might move down to 309
Stop loss : 325
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position.
JSWSTEEL BUYMetals are perhaps resting for a fresh rally. JSWSTEEL looks in good uptrend. It is in some correction mode. You can accumulate till the time it is holding support. Targets can be in the range of 320/360/400.
Please use proper money management rules and strict stoploss.
This idea is for educational purpose only. Kindly consult your financial advisor before investing.
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[Positional] JSW Steel Retracement BetAs per the charts. It already had a breakout. I am betting on the retracement. Today we also have results.
Swing LONGSTRONG CANDLE CLOSING IN WEEKLY AND DAILY TF
VOLUMES ARE GOOD AT BREAKOUT
NIFTY METALS ARE LOOKING BULLISH
