JSWSTEEL trade ideas
JSW Steel at strong resistanceJSW Steel near the strong resistance levels for 5th time since 2 years near 770-775
Expecting the strength of the resistance to be less on this 5th attempt and have a possibility of a breakout on the north.
Also shows Flag pattern if pattern is looked upon.
Near term I am expecting it to go 868-997 if it breaks out with good volume.
Other charts of same Sector should be checked if the sector has a momentum.
No recommendations, just my view based on chart.
JSW , an opportunity to make some handsome profit with cautionI have not marked all the previous motive waves, however the important part here is not the previous motive waves. we have already completed 5 waves up, which ended at 783.50, we are correction now and we just completed 1st leg of correction, what that means we still have 2 legs of correction to complete, one more up and then down. Currently we are in leg 2, what that means, we have to be little cautious in correction and have to watch revise your stop as needed. For now I am expecting the JSW steel to reach 780-781 rs, however be cautious there are high changes of JSW steel reaching at 762 and then reversing from there for the last leg of correction.
Good Luck!.
Do share the link and ideas with others so that everyone can benefit.
JSW steel at interesting levels 05/06/23.JSW steel on the weekly charts has been consolidating in a range and trading around the 20 ema.
The stock has taken support from 0.618 fibonacci level but unable to close above 0.382 levels. It is consolidating in the same range.
Stock can give either side movement and is currently trading near the resistance levels.
On the daily time frame, the stock is trading around 20 and 200 ema. The moving averages are close enough.
There will be a confirm long or short trade as moving averages will also be giving a break out or down.
Intraday and swing trades can be initiated if the stock starts trading outside the box.
Wait for the price to retest the break out or break down levels. Swing trades are there on the charts.
Must watch for a price action near the levels before entering the trade.
JSWSTEEL WTFAfter analyzing JSWSTEEL's stock, there are indications that a potential breakout may occur in the near future
However, it's important to note that stock market investments come with inherent risks, and predicting breakouts or price movements accurately is challenging. It's advisable to consult with a financial advisor or conduct further research to validate the analysis and make informed investment decisions.
JSWSTEELS Weekly Breakout above 775JSWSTEEL will breakout from its weekly Correction in coming Months .... Short term & Long Term trends looks upside.
LTP - 704.6
SL - 681
Targets - 775
Time frame - 1 Month
Lon Term Target - 1200+
Time Frame -1-2 Years
Weekly Flag Pattern Breakout above 775 will make the way clear for 1200+ in coming months.
JSWSTEEL - #intraday Chart Analysis || 25th April,2023 #stocksAnalysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Stock Trade Idea levels for 25th April, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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JSW STEELENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.