JSWSTEEL trade ideas
JSWSTEEL - Fresh Uptrend BreakoutPreceding Trend: Down
Time Frame: Daily Chart
Pattern: Breakout of Downward Channel
Bullish Reversal
Observation:
Total 5 touch points
3 touch points on highs
2 touch points on lows
Partial Decline making Higher Low confirms beginning of fresh uptrend
Breakout on decent volumes
25% potential upside from breakout
Pattern fails, if price closes below the higher low of partial decline
JSW STEEL LTDBull Flag patter formation on JSW STEEL on a daily timeframe ! Buying above ₹730 Long trem view ! Risky can enter ₹703 ! Sl ₹562 ! TP min ₹1000 !
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I'm not an financial analyst! I'm sharing this with public! It just learning purpose only! If u find anything wrong with this post ! U can tell me ⬇️ comments!
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EXPECTING TO WITNESS A BULLISH MOVE IN JSWSTEEL As per the 1 Hour Chart of JSW STEEL, we can see a beautiful Formation of "Bullish Harami" on the downside levels of the stock. Therefore, we are expecting a bullish momentum in JSW Steel in the upcoming trading sessions. Wherein it is being expected to face a resistance initially at around the levels of 662.25, 670.35, and 678.55. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 652.30, on closing basis. Closing Price (as on 21.12.21) : 658.50
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JSWSTEEL LONGI hope you can now see how JSWSTEEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.