JSWSTEEL trade ideas
JSW STEEL SWING BUY TRADEBreakout on daily timeframe.
lease refer the chart for the respective SL and Targets.
Plan trade as per proper Risk Reward ratio.
Note: This information is for learning/entertainment purpose only and please do your own research and consult your financial advisor prior to taking any action.
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Inverse Head and Shoulder breakout in JSWSteelJSWSTEEL Price analysis:
1. Pattern - Inverse Head & Shoulders
2. Higher lows formation
3. All-time high breakout
Momentum:
RSI above 60
Outperforming Index
Disclaimer: This is not a recommendation as I am not a SEBI registered analyst. Consult your financial advisor before investing.
JSW Steel Breakout & Retest SetupOn the daily chart of JSW Steel, a strong breakout above the multiple time-tested resistance zone can be observed. Following the breakout, the price retraced back to the flip zone and found support before heading up towards the next high. This presents a potentially lucrative swing trading opportunity in JSW Steel.
To enter this trade, a long position can be taken on the open of the next candle. A stop loss can be placed below the previous candle's low, as indicated on the chart. In terms of profit targets, a favorable reward-to-risk ratio of 1:3 can be targeted, as also marked on the chart.
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Buy JSW Steel Ltd. above 752Buy JSW Steel Ltd. above 752, Target 760. Reason for trade, stock took support on 50% pullback and reversed, also price took support on 20 EMA. Selling volume decreased and Buying volume increased.
Please note, I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
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