USD/INR, EUR/USD, GBP/USD, USD/JPY, USD/CNY, DXY
INFIBEAM AVENUES L, PC JEWELLER LIMITE, RELIANCE COMM LTD, YES BANK, GMR INFRASTRUCTURE, UTTAM VALUE STEELS
Nifty, BSE SENSEX, S&P 500, Nasdaq Composite, FTSE 100, DAX Index
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
This is my Personal View
Please Do Your Own Analysis
Pellet prices are at multi year highs...should help Jindal saw substantially.
First shared around Rs79...could easily continue to 100+
If it can sustain the breakout, next stop could be 200EMA.
Discussed this stock last week as well when the price was Rs. 79.
Buy - 88
CBSL - 82
Target - 101
Jindal Saw had a descending channel breakout recently, It is on the verge to break the Double Bottom.
Go long if it breaches previous day high.
As per Fibonacci(Weekly Chart), it may retrace till 101.
1. ENTRY : 86.15 ( Closing above the neckline )
2. Minimum Price Target : 102.80 ( Adding the difference between highest high made and lowest low during the formation to The Neckline )
3. Stop loss : 70 (Usually, price closing below the second bottom is a stop-loss.)
Disclaimer... Invested, not an investing/trading recommendation
My thinking process has been described and plans following
1.maintaining the long tendline support and also the median pink line of the pitchfork
2.Bullish reverse divergence on RSi
3.Red levels mark the weekly resistances, blue is the pivot and green level is the resistnce
4.the last time the bullish divergence fuelled the price upwards to be halted by the blue 618line of the pitchfork, likely to be ...
Robust indicator positions at trend line resistance.
it all started with small move. we caught it at 74.
Stock has retrace from its breakout level i.e. 107. My concept is when stock is retesting its breakout level and didn't go down from that level then it is true confirmation for positive up move. Considering this theory i would i to enter in stock at cmp 117 for long term.
Jindal Saw Ltd: ₹73:90 is trading in an up trending channel,currently at support.
This Projectile is having a target ₹104 in two months, Stop: ₹72
Let us see how it will evolve in to coming days.
JINDALSAW is presenting a low risk long opportunity at current levels.
Once the previous weekly highs near 68 is taken out, price can find momentum .
Position Bias :)