JSWSTEEL trade ideas
JSW Multi TF AnalysisMonthly TF:
Trading nearly at all time high(639)
Volumes are high
MACD is bullish
RSI is having some divergence
Previous month candle was a good breakout of nearly 3 year.
OVERALL STOCK IS VERY BULLISH.
Weekly TF:
Nice Cup handle breakout with strong volumes.
Trading above all key EMA's (21,50,200)
After giving breakout directly crossed 1.618 fib level (586.5), no signs of weakness.
RSI Gave breakout from major resistance.
Consolidated on resistance zone before breaking out.
MACD is bullish.
As RSI is overbought and also there had been continous bull run, one can wait with patience to retrace till 586 levels wherein it may retest RSI breakout. REMEBER RSI CAN STAY OVERBOUGHT OR OVERSOLD FOR LONG TIME.
It was a very good buying at 400-420 levels.
Daily TF:
Gave strong breakout from parallel channel after 9 months.
Again can be seen here clearly 420 around level it was nearly channel bottom test and daily breakout.
RSI, Showing clear divergence(marked with blue arrow), which means it MAY retrace, most probably till 580-586.
Need to wait and see if there is buying intrest at this level. If it rebounds from 580 level, long can be initiated.
Hourly TF
Shows a clear picture.
RSI Divergence can be seen clearly.
Stock is consolidating at hourly resistance level (628-633)
If any 1Hr candle closes above resitance levels with good volume, then good opportunity for TRADERS to go long.
NIFTY METAL INDEX:
JSW is part of nifty metal index with around 19% share.
Metal index charts have given breakout on Weekly levels afer 3 years.
Golden cross can be seen on weekly levels.
Overall metal sector is very strong.
INVESTORS can wait for retest at 580-586 levels, or can go long with partial amount if it breaks ATH on closing basis.
///Overall Stock is Strongly bullish in all TF's.///
***Having in portfolio from 194***
JSWSTEEL Continuation !!!Previous all TGT achieved.
JSWSTEEl : cmp : 630.35
Trading near the resistance lvl of 638.
If it surpass and sustain above the lvl. again a fresh buing move possible and stock can move upto 720.
So keep on radar !!!
TGT 656.25/675.75/696/716
positional Sl 550 clbs
Option Strategy ; April 630 CE
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
[Positional]JSWSTEEL LONG....increasing price with volume and volume is drying up during consolidation
Above 644
Target 699-750
SL below 590
JSWSTEEL :Shorting opportunity . Grab It!A great shorting opportunity in JSWSTEEL is up for grabs with a target below 600.
stop loss would be 680 and target 600.
JSWSTEEL seems week if it breaks 596 downside Sell JSWSTEEL if it breaks 596 downside
Stop Loss 642
Entry Bellow 596
Target 538
Short JSWSTEEL - Buy And Sell LevelsJswsteel Analysis shared in the chart.
I have already given long call on 19th March only.
We are sitting in huge profit. First of all book profit and look to short. Levels given the chart.
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NIFTY and BANKNIFTY Trade plan for 15th Apr ThursdayKindly watch the fill video to understand the important key levels to watch out for trading Nifty and Banknifty to trade. To find these exact levels, you can install my Indicators and use them for trading.
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Happy trading
Mohan
