JINDAL STEEL there is a TREND LINE BREAK OUT with + A Rounding Bottom Cup formation and then a Break Out on the Cup formation with Huge Volumes on 1.NOV,2019.
Target 1 : Rs, 177
Target 2 : Rs. 220
Stop Loss : Rs. 125
it is respecting broadening pattern as seen with yellow trendlines it must bounce back now plus it is taking supoort at 50% fibonacci level which is good but if it closes below lower trendline yellow it may go down target given and also might go up target for long also given stoploss will be lower trendline
note: 15 minute candle on closing basis must be used...
Long 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...
AS YOU CAN SEE IT HAS FORMED BULL FLAG PATTERN AND ALSO IT HAS BOUNCED BACK FROM FIBONACCI`S 50 % LEVEL WHICH IS VERY GOOD THING
TARGET FOR LONG IS GIVEN GOOD LUCK
NOTE: TRADE AT YOUR OWN RISK
Jindal Steel and Power Limited is an India-based steel producer. The Company's segments include Iron & Steel, Power and Other. The Other segment consists of aviation services and machinery division. The Company's product portfolio consists of steel product mix, construction solutions, and construction material and solutions. Its steel product mix category includes rails and head hardened rails, parallel flange beams and columns, angles and channels, plates, coils and wire rods. Its construction solutions category includes fabricated steel section, speedfloor, light gauge structures, insulated dry wall panel and Jindal Global Road Stabilizers (JGRS). Its construction material and solutions category includes Jindal Panther Cement, Fly-Ash Bricks and Light Weight Aggregate (LWA). It has an installed steel-making capacity of over 6.75 million tons per annum (MTPA); an installed power generation capacity of approximately 5,060 megawatts, and pellet-making capacity of over nine MTPA.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
JINDALSTEL
