JSWSTEEL trade ideas
JSW STEEL 1HRINTRADAY TRADE
- EARN WITH ME DAILY 10K-20K –
JSW STEEL Looking good for Downside..
When it break level 898.50 and sustain.. it will go Downside...
SELL @ 898.50
Target
1st 894
2ND 890
FUTURE AND OPTION
JSWSTEEL AUG FUT – LOT 9 (Qty-6075)
JSWSTEEL AUG 3100 PE – LOT 9 (Qty-6075) – PRICE (32.85)
Enjoy trading traders.. Keep add this STOCK in your watch list..
Big Investor are welcome..
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JSW STEEL 1HThe chart shows a few support and resistance levels. There is a key support level at 894 INR. The stock has shown a tendency to rebound off this level. The key resistance level is near 917.50.
The stock has pulled back from the 61.8% Fibonacci retracement level and is currently trading near the 50% Fibonacci retracement level. This could be a good time to enter above 895 a long position, as the stock has shown some strength in recent days.
****Keep in mind that this is just technical analysis, and it doesn't guarantee future price movements. Always do your own research before making any investment decisions.
Breaking Out Above 2-Year Resistance Strong Uptrend Ahead!
-The stock is breaking out above a 2-year old rising resistance, signaling a strong upward move.
-Strong support around 837 levels with the 200 EMA and trend support. The breakout suggests a potential move towards 1000/1170 levels.
-RSI is at 59showing bullish momentum. MACD histogram is positive, supporting the breakout with bullish signals.
-Volume increase confirms strong buying interest and bullish sentiment, supporting the breakout scenario.
-The company has shown steady revenue growth and strong profit margins. Its solid balance sheet and effective cost management contribute to financial stability.
-A leading player in the steel industry, the company has a strong presence in the Indian market. Continuous innovation and expansion provide a competitive edge.
-The steel sector is experiencing robust growth driven by infrastructure development and industrial demand. The company is well-positioned to capitalize on these trends.
JSW Steel Ltd. (15% upside potential)
Sector: Iron & Steel
monthly & weekly structure bullish N showing strength
now as we can see Daily TF makes bullish n makes HH & HL pattern with strong RSI conversion and bollinger band support...
so long term investors may accumulate for 45-50% for 1000 target price
SWING trader may accumulate this for ALL TIME HIGH....
ATH , different HTF fib levels act as a major resistance levels with potential tp mitigate multi-month rising channel resistance line....
JSWSTEEL - Not a good buy at current levels!The stock is trading around the upper channel. The space on the upside looking limited and RR is not favourable at the current levels.
Weekly TF view:
Price Observations:
1. Even after breakout & restest of major 800 previous ATH levels the moves is slow and choppy.
2. Volumes are dry.
3. Buyers are weak.
Now, possible 2 Scenarios here:
1. WAIT FOR THE BREAKOUT OF THE CHANNEL AND ENTER WITH CONFIRMATION WITH SMALL SL.
2. WAIT FOR A RETTRECEMENT TO ENTER AT SUPPORT LEVELS.
- I WOULD WAIT FOR THE LATER CASE SINCE I'M NOT A TYPICAL BREAKOUT TRADER!
- Stay updated for further insights and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
Swing Setup in JSW Steel LtdAfter a strong breakout from Descending Triangle pattern, stock was in tight consolidation for some days and now has given breakout from previous resistance reaching to an ATH. Stock has also retraced till resistance which is now acting like support. A swing trade can be taken for 8-10%.
Bullish Flag pattern breakout in JSWJSW STEEL LTD
Key highlights: 💡⚡
✅On 15 MIN Time Frame Stock Showing Breakout of Bullish Flag Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 900+.
✅Can Go Long in this Stock by placing a stop loss below 848-.
JSW STEEL 870-910-940FUNDAMENTALS :
1. Qtrly Sales growing as compared to Sales in corresponding Qtr in P.Y.
2. OPM at 17% V/s 11% previous year
3. Caution : Price to Book value is High as compared to its peers
Technical:
1. Price confirmed breakout and retest of Ascending Triangle on weekly chart.
2. Price Took support of trend line on weekly chart
3. 20 week SMA support at 810 and 50 Week EMA support at 782
4 . Price forming ABCD pattern on Weekly chart
5. Narrowing Bollinger bands on daily chart and price walking on upper band
6. Daily and monthly RSI above 60
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
JSWSTEEL : Booked a profit of 12.13% on the invested capitalI've decided to close my position and lock in profits as the price has reached a key inflection level. I'll be keeping an eye out for a potential re-entry if the price dips back down to the lower trendline of the higher timeframe parallel channel.
📢📢📢 If my perspective changes or if I gather additional fundamental data that influences my views, I will provide updates accordingly.
Thank you for following along with this journey, and I remain committed to sharing insights and updates as my trading strategy evolves. As always, please feel free to reach out with any questions or comments.
Other posts related to this particular position and scrip, if any, will be attached underneath. Do check those out too.
Disclaimer: The analysis shared here is for informational purposes only and should not be considered as financial advice. Trading in all markets carries inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and assess your risk tolerance before making any investment decisions. The views expressed in this analysis are solely mine. It's important to note that I am not a SEBI registered analyst, so the analysis provided does not constitute formal investment advice under SEBI regulations.
For Long Trade $NSE:JSWSTEELMention Information is only for Educational Purpose.
Dear Traders,
I hope this message finds you well. I wanted to share my view on
JSW STEEl with you. I Think that this stock is about to give good brake out .Volume is also good
Stock: JSW STEEL.
Entry Point: triggered
Stop Loss Point : 840
Target Point: 880,930,960
Please keep in mind that markets are inherently unpredictable, and there are no guarantees in trading. This view is based on my analysis as of Dated 04-april-2024, and conditions may change. It's important to do your own research and consider your risk tolerance before making any trading decisions .Feel free to reach out .Your feedback and insights are always appreciated.