JINDALSTEL trade ideas
Descending Triangle breakdown in JINDALSTELJINDAL STEEL & PWR
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakdown of Descending Triangle Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 645-.
✅Can Go short in this stock by placing a stop loss above 690+.
JINDAL STEEL & PWRChart top made head and shoulder pattern.wait for trade confirmation if break neckline price below 634 make a short entry for almost 10%.
S.L today day high 646.
Today break 20dema short term momentum is bearish.
Macd is bearish favour in short trade.
Disclaimer:- This is my personal view for education purpose only.
No Buy sell recommendations give by me.
Jindal Steel Inverse Head And Shoulder BreakoutJindalSteel broke out of 610 level of resistance today.
Also, this looks like breakout of Inverse Head And Shoulder Pattern which is a bullish pattern.
I expect price to rise further.
Entry can be initiated at current market price or at retest of the neckline at 610.
Targets-
1. 700
2. 715
Stop loss-
Aggressive traders/ Risk taker can put stop loss below 590.
Conservative traders can put stop loss below 562
JINDALSTEL Positional upside targetsNSE:JINDALSTEL is indicating sign of reversal. As per my analysis, 532-533 is best level to take buy entry with stop loss of 505 (-28 points risk). My expected upside positional targets would be 545 (+13), 558 (+26), 569 (+37) & 580 (+48).
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
JINDASTEL - Bullish Momentum with VolumesNSE: JINDALSTEL is closing with a bullish momentum 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 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Disclaimer:
This is for educational purposes only.