Just A View - JSWSTEEL📊 Script: JSWSTEEL
📊 Sector: Steel
📊 Industry: Steel - Large
Key highlights: 💡⚡
📈 Script is trading near middle band of BB.
📈 MACD is giving crossover .
📈 Double Moving Averages will give crossover soon.
📈 Right now RSI is around 54.
📈 Stock is trading into narrow range which means consolidation which is highlighted into chart.
📈 Stock is trading between 794 to 845 rang.
📈 One can go for Swing Trade only above 845 level.
⏱️ C.M.P 📑💰- 845
BUY ONLY ABOVE 845
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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JSWSTEEL trade ideas
JSW steel raising wedge - The upper wedge line reached the maximum narrow area so, the price action moves to bottom line, which is also being narrow so, there is no space for rising further. Hence, the stock might come down.
This analysis is for learning purpose only.
It is just a view, please trade at your own risk. I'm not SEBI registered adviser.
JSW steel reversing to bullish move#JSWSteel DTF
price touched support and reversing to bullish move.
price forming HH, HL from Jun'22 (WTF)
now it took support from long support line and closed with good green candle with ok volume.
good for swing trade
Entry - CMP
Target - Previous resistance
Stoploss - below support line
JSWSTEEL - Bullish Consolidation with volumesNSE: JSWSTEEL is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 13% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
JSW Steel long indicationsJSW Steel long indications
Stock has been moving along with the support lines since a long time, now showing some momentum on the up from those lines. Red line is very long term resistance levels.
Looking for previous high of 893 to break for it to show some new highs with levels of resistance at 1050-1070. Only if it sustain then can give good momentum. If not then down side is also possible with initial base of 770.
Wait and watch approach on this.
No recommendations, just my view based on chart pattern .
JSW steelDaily and one hour time frame shows bullish sign. Trend deciding zone is 817 - 823. Above this zone if price gains strength, then we can see good movement.
Volume gain and trend line break out in one hour chart.
Daily chart also shows volume gain. And the Q3 result is good.
Now the levels to trade if the price sustains the trend deciding zone. Buy above 823 with the stop loss of 817 for the targets 828, 833, 838 and 844.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
JSWSTEEL BEARISH -TGT 770-789JSW Steel Ltd. is also an interesting Bearish chart with following
1. Price formed Black Marubozu candle on weekly chart
2. Price formed Three black crows pattern on daily chart
3. Price walking near lower Bollinger Bands on Daily Chart
4. Stock Making lower lows on daily chart for last three days.
5. 2. Major support on weekly time is near 769-790 zone
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 take one with my own Risk Reward matrix.