JSW Steel long indicationsJSW Steel long indications
Stock has been moving along with the support lines since a long time, now showing some momentum on the up from those lines. Red line is very long term resistance levels.
Looking for previous high of 893 to break for it to show some new highs with levels of resistance at 1050-1070. Only if it sustain then can give good momentum. If not then down side is also possible with initial base of 770.
Wait and watch approach on this.
No recommendations, just my view based on chart pattern .
JSWSTEEL trade ideas
JSW steelDaily and one hour time frame shows bullish sign. Trend deciding zone is 817 - 823. Above this zone if price gains strength, then we can see good movement.
Volume gain and trend line break out in one hour chart.
Daily chart also shows volume gain. And the Q3 result is good.
Now the levels to trade if the price sustains the trend deciding zone. Buy above 823 with the stop loss of 817 for the targets 828, 833, 838 and 844.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
JSWSTEEL BEARISH -TGT 770-789JSW Steel Ltd. is also an interesting Bearish chart with following
1. Price formed Black Marubozu candle on weekly chart
2. Price formed Three black crows pattern on daily chart
3. Price walking near lower Bollinger Bands on Daily Chart
4. Stock Making lower lows on daily chart for last three days.
5. 2. Major support on weekly time is near 769-790 zone
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take one with my own Risk Reward matrix.
JSW STEEL- Bull run 2.0?We have seen an amazing bull run in JSWSteel during the metal sector rally of 2020-21.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks , it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
JSWSTEEL Bullish; above 846 on Monday 11 Dec. The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...
SWING Trading Strategy:
Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)
INTRADAY Trading Strategy:
1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday.
"High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also
2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage
3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.
Both Safe Traders/High Risk Traders book profits at this stage
Stop Loss: @ "Open" price of the day OR "Breakoutprice"
This do not constitute, financial, investment, trading, or other types of advice or recommendation.
decending wedge can give upside move of 6-12 %Jsw steel price breaks an important resistance level and previous day volume spiked price action is Good in this chart as a descending broadening wedge is appeared so we can trade this after confirmation when the price sustained that level and after the increase in volumes We can make position for a target of 5 to 12 percent.
fii / dii data is also positive