On Daily Time Frame, JINDALSTEL showing falling wedge pattern breakout. After this breakout expected this stock will give upside move upto 500+ projected target in short term period. Also, MACD bullish crossover in oversold zone indicating trend reversal of this stock. Can go long in this position with downside stop loss below 370 for target of 445 and 500+.
JINDALSTEL flag pattern pattern study for study purpose only
Bullish Wedge breakout. One can trade at a breakout and retest of the wedge pattern and also consider the horizontal resistance line shown in blue.
Swing traders can plan this and take entry with SL below the BO TL.
Market Cap ₹ 39,707 Cr. Current Price ₹ 389 High / Low ₹ 502 / 179 Stock P/E 10.4 Book Value ₹ 312 Dividend Yield 0.00 % ROCE 15.8 % ROE 14.9 % Face Value ₹ 1.00 Add ratio to table
please refer chart for entry exit points, I'm confident it'll move up, try less qty
Jindal steel waiting for breakout, buy above breakout line
Metal sector looks strong now after an having consolidation phase, Jindal steel can be seen making an falling wedge on weekly chart. If it breaks 400 level with good volume then it can reach 500 level which was its last high.
Good to go long , Jindal Steel RSI at 40 and price on 200 Ema on daily chart price at swing support , can be a good swing trade
As the Chart tells, It's on a downslide since past few sessions. Downward trend with a Descending Triangle shows much weakness. To add on, stock's trading below 200 MA, Could see some serious fall in the coming sessions. (If it goes as the trend suggest, Price fall could be around 308-310 Levels.
345 is LOC and should be SL for all long trades. With this SL, one can make a fresh entry for Target 400+
Might be nearing the end of Correction.. Keep an watch.. Has a good potential with Good Risk and Reward
Jindalsteel looking too good to me Targets could 400 and above *Reasons for selection: Multiple Chart Patterns 1.Flag& Pole pattern 2.Discending Triangle Pattern 3.Bullish Wolf Wave Pattern 4.Double Bottom Pattern
Inverse flag (wedge reversal) breakout in buying side. Also metal sector are performing well in past few days. Go for long.
Long opportunities in Jindal steel after the breakout in upside above 410 and short below 370 on closing basis.
JINDALSTEL upside move strong bull coming soon target level
JINDALSTEEL exactly reverse from the previous support at weekly, so will expect huge rally in this script...mid term target 450-500
After a fall, stock consolidated below 20 days moving avg and now closed above. Looks like, this trend will continue for a while