JSWSTEEL trade ideas
Will be a Party to the #Metal rally but after a pullback It has given a breakout with NIFTY 50 spread chart. Steel Sectors are showing a cyclical rally.
JSWS STEEL Testing multiple tops and is likely to breakout above the rectangle. Still above the Cloud and holding well.
Charts reading and posting are for my own trading purpose. Not a SEBI Authorised Advisor.
JSW Steel strongly bullish on daily.Chikou span has bounced off from the price line.
Prices are beautifully above all ichimoku components.
Tenken, Kijun, Senkou A and Senkou B are all inclined upwards.
TK Cross in the past week.
Future kumo is bullish.
Price momentum has been validated by spike in volume.
Hidden billish divergence on RSI suggests that uptrend shall continue.
JSWSTEELOn the way to breakout... Wait for breakout..... Bullish above 315.
Levels mentioned on chart...
Least noisy chartWeekly charts are least noisy. They help in getting clear long term image of the stock.
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JSW STEEL - Ascending triangle bullish breakoutNote: This is for educational purpose only. Do not trade F&O based on this analysis.
There seems to be a bullish breakout after tight build up near resistance for 42 days. This signifies that bullish pressure is more and hence, the price did not fall down. Moreover, breakout is is with high volume. RSI is at 69 which indicates bullish momentum but at the same time it is nearing overbought zone. Hence, there might be a slight pullback/ side ways movement before the next upmove.
JSW Steel - BreakoutBreakout with high volumes while news that metals are doing well fundamentally as well.
Long as CMP. SL below 295.
BREAKOUTSEEMS LIKE BREAKOUT
HOLD IT'S SUPPORT....
PROBABLE UPWARD...
DISCLAIMER:
ALL MY POST ARE FOR EDUCATIONAL POURPOSE NON DIRECTIONAL AND NON ADVISORY
Swing / Intraday SetupComing close to a very good level to enter for SWING or Intraday.
Wait for it to cross 295 and confirmation on 15 would be great entry for the target of 312/325 with minimal SL of 290. Keep on trailing your SL on every 5 points movement.
Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.
JSWSTEEL SELL ? POSITIONAL IN FUTURESJSWSTEEL :
POSITIONAL SELL VIEW
SELL THE STOCK IN FUTURE AT 298 TO 300:
KEEPING SL AS 325:
SL IS STEEP ...
FOR INTRADAY SL AS 305
TARGETS :
288/282/274/261/
AGGRESSIVE TARGETS :251/244/236/222
On the way to breakout to new zone !!! JSWSTEEL
Buy JSWSTEEL above Rs. 296 for the Targets of 314 and 340 ....
Stoploss- Rs. 273
Comment your Views....
Thank you,
Vishwajeet Sharma
