Jindal steel and power reached a high in July 2010 and till now it has not come close to it but now it seems that it can give a breakout in the coming time. As soon as it gives the breakout, a long trade can be initiated
14 YEARS of breakout,stock ready to shhot up.
------Breakout analysis in all frames..
-----.-Long Term ------
The 14 years of breakout is confirmed by the fact that stock completeda a perfect rounding bottom and resistance of all time made in 2010 , 14 Years ....
....... Medium to Short Term....
1) The RSI is currently at 63, which suggests that the...
Breakout make sense in all frames..
-----.-Long Term ------
The 14 years of breakout is confirmed by the fact that stock completeda a perfect rounding bottom and resistance of all time made in 2010 , 14 Years ....
....... Medium to Short Term....
1) The RSI is currently at 63, which suggests that the stock is not overbought...
2) The stock has closed...
-upper trend breakout with high volume and also closed in strong zone
- rsi currently in lower side but expecting it to rise along with price
-keep in radar i am expecting decent return in mid term
Jindal Steel & Power Ltd is one of the India's leading steel producers with significant presence in sectors like mining and power generation. The group has global presence through subsidiaries, mainly in Australia, Botswana, Indonesia, Mauritius, Mozambique, Madagascar, Namibia, South Africa, Tanzania and Zambia.
Sock has already concluded a complex corrective structure at 24-Jan'24 low of 688 zone and started bouncing back. This suggests that stock is likely to move towards it's resistance zone of 756-760 in the coming days. Breaking above the resistance zone will lead it towards 800-820 zone over the weeks ahead.
NSE:JINDALSTEL
A solid Symmetrical triangle formed & broken out with volume.
Triangles are periods of consolidation showing rangebound trading in the stock. Once a breakout occurs, there is a good move expected up to the pattern height of the pattern .
SL - 720
Entry - 750
Target - 825
RR - 2.5
Disclaimer : This is NOT a Trade recommendation
Jindal Steel might be a good pick for swing and positional trades with a small stop loss
Entry at 730-733
Stop loss at 726.5 or 727
targets like 740, 745, 750-52, 760, 770++
Note: if any trade or value has gone from the place we decided to enter then thats not our trade wait for it to come back or let it go
I am not sebi registered this is my personal view
#JINDALSTEL
CMP ₹:744.85
Date: 04-01-2023
Technically looking good.
Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
Start of 5th wave has been initated.
Probable targets shown in the chart.
From november 23 this impulse wave was started from low of
581 to high of 732.
Here the 2 nd wave flat .
hence 4 th wave is deep retracement 61.8 percent of 3 rd wave.
In lower time frame it is appearing present correction is over.
I am attaching the lower time frame chart.
follow me to...
