JSWSTEEL trade ideas
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JSW Steel - Bearish RSI Divergence on daily chartBig Bearish RSI Divergence on daily chart can be seen.
Last two daily candles closed red and 375 is turning out to be a resistance apparently.
I would Go short with a stop of Yesterday's high which is around 377.
Targets are 350 , 330 and 300.
Expecting to hit targets by the end of january.
JSWSTEEL - Elliott wave analysis - 4th and 5th wave trade set upJswsteel is extending the 5th subwave within 3rd of 5th wave up. One more move up will create second divergence, which will probably end the cycle. It is good sell set up for 4th wave down. Once the 4th wave will finish near 345, it will be good long trade for 5th wave up.
JSWSTEEL - Elliott wave analysis - 4th and 5th wave trade set upJSWSTEEL has completed 3rd extended wave within C wave up. Sell with stop loss above 362.15 in small bounce for target near 335.-330 zone as 4th wave correction. Thereafter 5th wave up expected to go higher as the final wave up, which will go above 370 or higher.