JSWSTEEL trade ideas
JSW steel to take long entryJsw steel is in uptrend in all TFS. Take long entry between 325-330 TGT 350 SL 312. on daily stock is well support taken the 20 EMA. Expected once again to bounce back.
This is for your educational purpose only.
JSW STEEL.. raising wedgeJSW STEEL forming a rising wedge with higher high in price and rsi finding resistance at the previous top.
expecting a test of 20 dma to start.
immediate supprt at 326 327
note: this is just for reference and study purpose. do your due diligence before trading or investing
JSW STEEL----SELL BELOW 341, SL- 343.5.1st confirmation:- Double Top in JSW STEEL.
2nd confirmation:- Negative Divergence at 1H TF.
Chart of the Week: JSWSTEELJSWSteel had a brekout and started to rise. As per Gann theory, it has entered into a new orbit and as per ElliottWave theory, first wave on weekly time frame is started being developed. From March 2013 to Aug 2018, in 5 years it climbed from low 45 to 425. Similarly, from its low of April 2020 of 132 and by approx 2025 - 2026 it may rise upto 1300-1400.
This is being unfolding as a multibagger stock, without any Stop Loss buy and hold for at least 6-7 years.
JSW STEELIt has reversed from a Bearish Harmonic Alt Shark which could see a retracement till 318/310/300. The view would negate above 332.
Harmonic Trading Patterns are derived from Fibonacci ratios which create various patterns indicating reversal/retracement of trend in the time frame spotted.
[Buddha] JSWSTEEL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Stock Analysis of JSW Steel.Price - ₹309.35 Dt. - 03-11-2020
Price faced resistance at ₹328 before 2 weeks and today the stock took the support at ₹304. 21DEMA is placed right below the support line. It looks like the stock is ready to move above till resistance line giving the profit of around 6-8% profit. If starts moving downward it can go up to 50DEMA. RSI is neutral.
A Reverse head and shoulder pattern is always strong !!!!!Disclaimer : This analysis is being put for educational and entertainment purposes only, any trade or positions taken on basis of this analysis is to be based on your analysis and thinking.
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swing buy setup on JSWSTEELONLY FOR EDUCATION
TRADE BASED ON
1. PRICE ACTION
2. RSI STRATEGY
3. FIBO STRATEGY
