JINDALSTEL trade ideas
POWER ON Jindal steel and power looks good on daily chart by the closing basis break horizontal resistance trend line and closed above on that, some days back it breaks 200 days moving average and came down with very steel fall after so many days it managed to give a close above on it's 200 days moving average so the conclusion is this that we can see a sharp rally in this stock in coming sessions. Good risk to reward ratio.
Cause of long-:
1- Horizontal resistance trendline breakout.
2- Break 200 days moving average and closed above on that successfully.
Jindal Steel analysis for Cash & Futures by 3 Parameter StrategyTrade Setup
Enter the trade at the opening.
Stoploss at the low of the signal candle for aggressive traders.
Stoploss below the 20ema for positional traders.
Trailing stoploss after a 5% move.
Analysis Notes
Bollinger Band is squeezed and the breakout of the upper band.
Rsi is above 60.
Macd bullish crossover
For educational purpose only.
JINDAL STEEL & POWER - Multiple Indicators 📊 Script: JINDALSTEL (JINDAL STEEL & POWER LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500, NIFTY METAL, NIFTY MIDCAP
📊 Sector: Commodities, Metals & Mining
📊 Industry: Ferrous Metals, Iron & Steel
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover .
📈 Already Crossover in Double Moving Averages.
📈 In weekly time frame MACD is giving crossover.
📈 Current RSI is around 68.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 433.35
🟢 Target 🎯🏆 - 473
⚠️ Stoploss ☠️🚫 - 415
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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The Major Signals Part :- 3Hello Everyone,
Before Starting we will Know about the Strategies of working at 50 and 200 Ma with an Indicator well known to you 🤜
So Lets Start
Strategy of 50 and 200-day Ma's WIth the Indicator Stochastics
In the strategies, we would take a simple moving average of 50 and 200 days and take Indicator Stochastics, Now whenever you see a Crossover of 50 and 200 days Moving average with the crossover of Stochastics then you have to buy and sell for basics we will talk in detail in the next parts.
1. Inverted Hammers
It is a type of candlestick pattern found after a downtrend and is taken to as a reversal signal. The inverted hammer looks like a Shooting star or a Reversed version of the hammer candlestick pattern, and when it is seen in an uptrend it is called a shooting star. Now Many Peoples have doubt that is this a Bullish or Bearish Pattern as it looks exactly like shooting stars, so let me tell you it is a bullish reversal pattern, which signals that a stock can be bullish now.
2. Morning Star
It is a candlestick pattern consisting of three candlesticks, It is a bullish pattern used by technical analysts to predict the market. A morning star forms after a downtrend and it shows the starting of an uptrend. It is a sign of a reversal in the price. Traders spy on charts for the formation of a morning star and then seek confirmation that a reversal is coming or not.
3. Evening Star
It is a candlestick pattern consisting of three candlesticks, It is a bearish pattern used by technical analysts to predict the market. An evening star forms after an uptrend and it shows the starting of a downtrend. It is a sign of a reversal in the price. Traders spy on charts for the formation of a morning star and then seek confirmation that a reversal is coming or not.
4. Kicker Signals
It is a two-bar candlestick pattern to predict a change in the direction of a trend. This pattern is characterized by a sharp reversal in price over the span of two candlesticks. Traders use it to determine which trend of market participants is in power.
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The Major Signals Part :- 2 Hello Everyone,
Before Starting we will Know about the Derivatives Of Morning star and Evening star
So Lets Start
Morning Star Derivatives (Remember it is on the Bottom side)
1. Abandoned Baby
2. Doji Star
3. Star and Gap
4. Hammer
5. Reverse Hammer
6. Doji Hammer
We will talk more deeply in the Next Part
Also, I suggest 50 and 200-day MA take into use on the charts
(As a survey says that all the charts work better on different ma's but 50 and 200 work best on almost Every stock)
1. Piercing Patterns
A Piercing pattern is known as a Major signal and is very potent and can be used for predicting a bullish reversal. The formation occurs rarely. It is a two - candlestick pattern that has the potential for a short-term reversal after a downward trend to an uptrend. The pattern includes the first candle opening is Red in color and the Green candle opens below the Red candle, One can buy it after getting confirmation at the breaking of the red candle as shown in the picture. It also includes a rule to get closed above the half of the red candle that covers at least half of the red candlestick.
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If it doesn't get closed above Half of the red candle then it would be known as
1. In Neck
2. On Neck
3. Thrusting Line
2. Dark Cloud
A Dark Cloud pattern is known as a Major signal and is very potent and can be used for predicting a bearish reversal. The formation occurs rarely. It is a two - candlestick pattern that has the potential for a short-term reversal after an uptrend trend to a downtrend. The pattern includes the first candle opening is Green in color and the Red candle opens above the Green candle, One can sell it after getting confirmation at the breaking of the green candle as shown in the picture. It also includes a rule to get closed below the half of the green candle that covers at least half of the red candlestick.
3. Harami - Bullish
A Harami - Bullish pattern is known as a Major signal and is very potent and can be used for predicting a bullish reversal. The formation easily. It is a two - candlestick pattern that has the potential for a short-term reversal after a downtrend trend to an uptrend. The pattern includes the first candle opening is red in color and the green candle opening between the red candle, One can buy it after getting confirmation at the breaking of the red candle.
4. Harami - Bearish
A Harami - Berishpattern is known as a Major signal and is very potent and can be used for predicting a bearish reversal. The formation easily. It is a two - candlestick pattern that has the potential for a short-term reversal after an uptrend trend to a downtrend. The pattern includes the first candle opening is green in color and the red candle opening between the green candle, One can buy it after getting confirmation at the breaking of the green candle.
5. Shooting Star
It is a type of candlestick pattern which forms in an uptrend. A shooting star is a Bearish Candlestick pattern, not a Bullish Pattern having a long shadow on the upper side and a small shadow which is next to visibility can be seen at all. In technical analysis, The Shooting Star looks exactly same like an Inverted hammer.
(Remember this is not based on the color)
When the goal is completed we will publish Part :- 3
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The Major Signals Part :- 1Hello Everyone,
Before Starting we will Know about Opening and Closing Marubozu
So Lets Start
Opening and Closing Marubozu
An Opening Marubozu is a White Candle that has shadows only on its Closing Price and A Closing Marubozu is a Black Candle that has shadows only on its Closing Price, Remember they are not showing weakness that the stock is definitely will become down now it gives strength and immunity to the trend and shows the strength that the trend will continue and will remain for now.
Now Let's Move to the Main Topic
1. The Dojis
A Doji appears when Open and close are equal it happens in two cases
1. When first bears take the market down and then the bulls take the market up than the opening price and then bears take it again down till the opening price
2. When first bulls take the market up and then the bears take the market down than the opening price and then bulls take it again up till the opening price
Now dojis are also In many types like
1. Long-Legged Doji
2. Four Price Doji
3. Gravestone Doji
4. Dragonfly Doji
Important Notes
The bigger the series of Doji will be the stronger the trend would be
2. Bullish Engulfing
It is a two candles bullish reversal pattern and can be seen after a downtrend. The first candle is a small body and red in color and is followed by a second bullish candle with a green candle that completely engulfs the previous red candle.
3. Bearish Engulfing
It is a two candles bearish reversal pattern and can be seen after an uptrend. The first candle has a small body and is green in color and is followed by a second bearish candle with a red candle that completely engulfs the previous green candle.
4. Hammer
It is a type of candlestick that is formed when the price moves down after the open and then comes back to close above the low. This candlestick contains a small real body with a shadow at the low that is at least two times the body.
5. Hanging man
It is a bearish candlestick pattern that develops after an up move and looks exactly like a hammer. This candlestick pattern opens on the bullish side but then it becomes bear very dramatically. After the bear, the price goes and closes near the high of the candle and well off the lows.
(Remember this is not based on the color)
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jindal steel bearish engulfing candle the stock har given signal of very strong bearish candle
MY VERDICT
1)overall the market is correcting ,and jindal steel had awsome rally recent days .
2)though volumes are not convincingly high to believe the bearish candle .
3)the catch here is that market is in pullback mode and so is metal sector .
4)RSI is also reversing from upper trajectory that means a correction should be comming .
TRADE:
1)if a follow throught candle breaks the prv.candle low
2) sell can be initiated for target of 20 ema i.e 393 near arround
3) if market goes upward it may also show upmove .
thank you
keep capital safe
trade what you see ,not what you hope for ....