JSWSTEEL fut made hammer on hourly chart, suggets reversal from here, same pattern in metal index as well.
Could be bought with mentioned stoploss & target/intraday.
As I mentioned in my previous post as well, we are about to finish wave e of Wave C triangle. Once we are done with the completion of wave e, expect the quick and fast move till 692-693 and beyond. I don't want to see another triangle in wave- e, from my experience as Elliott wave Practitioner, its very rare to see wave e itself turning to a Triangle. Even if its...
Hi,
JSW was in complex correction for a while, as we reach towards the completion of the last leg of the W-X-Y correction, we see that in the Wave Y we have already completed A-B- and now we are in the Wave C of Wave Y. In wave C we are in c of C wave, which means we are about to finish the last c Wave in the C wave, which itself is a descending triangle. Once...
As you see in the chart, JSW Steel has almost completed the complex correction (W-X-Y), with an Expanded Triangle forming at the wave C of the Wave Y. Time has come for the uptrend to resume and hit the first target of 692 with very quick movement.
Can short sell JSW Steel
LTP: 713
Support: 720
Resistance: 680
DEMA matching MACD and looks like it is crossing over to a bullish pattern.
RSI below 50
Immediate trend is down-trend
At lower end of important support, Breakdown may bring further weakness. Pithfork lines can give future support.
Upmove/Bullish only if stays above 366
