Key Points:
- On daily and weekly chart strong bullish momentum seen with breaking ATH price & potential to have up move for short term
- RSI 74 crossed RSI MA of 62
- Volume above VMA
- Price crossed above 20,50,200 EMA
In Gujarati “ Bhav is Bhagwan ”
Disclaimer :
I am not a SEBI registered Analyst.
Please do your own Analysis before taking any...
JSL is in uptrend but hovering over the 10 SMA.
There was a good entry on 19th Jan '22 as the breakout i.e 245 was crossed.
Sold 1/2 quantity at 258 and trailing half quantity until the stock closes below the 10 MA in the Daily timeframe.
Breakout-retest-continuation pattern is formed, Buy this at CMP of 255 for a target of 284-285. No need of stop loss as it is a fundamentally good stock which can be holded.
- Ascending Triangle Breakout At Lower Levels Which Was first Breakout Level.
- Expanding triangle formation and stock is breaking out of second breakout level.
I bought Jindal steel @238 after breakout from trendline on weekly time frame...there was a 10% movie in 1 hour on 11:00 am candle. This is a channel pattern, expected to move high..lets see...capital employed is 10000
our sl will be around 15% and target will be 30%
JSL:- Cup and handle pattern shown in progress, keep on radar...
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades...
JSL 07 Dec 2022
Stock BO with huge volume on 06 Dec 2022, ATH is 224.40
In Play : HH : HL
Summary
- CMP 197.30
- TL BO confirmed
- Volume Confirmed
- ATH 224.40
Conclusion
Long can be initiated with stop below 168 for potential target of 224-242-285(LT Target 320-351-382)
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own...
Stock has given BO forming cup and handle pattern at weekly time frame and also Govt decision on export duty will also boom steel sector in long run...ATH may be seen very soon with supportive trendline.
