JSWSTEEL - Bullish Consolidation BreakoutNSE: JSWSTEEL is closing with a bullish consolidation breakout 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.
JSWSTEEL trade ideas
JSWSTEEL 4HRS NSE:JSWSTEEL
Hello traders this is the analysis of jswsteel of 4hrs. 647 is the most important level because of fib level 50%.if it bounced to upside from this level then it will touc 680 and next 716 target. by chance broke the level of 647 and consolidated more times then trend will change to downside.
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i think jsw steel is set for longI can see that JSW chart is ready for long call in next few days.i am beginner i am not fully sure about this call but in my perspective,its all set for a long run. Because, candles are near to a demand zone and there will be a strong demand from that level. Moreover, the chart of this stock has already seen downfall. So,that is my reason behind this call.
JSW STEEL IN A CHANNEL As seen,in the chart JSW STEEL is in a Bearish Channel in daily timeframe and in hourly timeframe it is forming a Symmetrical triangle chart pattern.We can plan a trade after the breakdown of channel. And Jsw Steel is coming down by taking resistance from its all time High.So it can be good trade after the breakdown and also there is also a possibility of going to upwards again to it's Upwards Channel resistance. If it gives the breakdown then our stoploss can be the high of breakdown candle and you can decide your traget as you want. Safe traders can enter after the retest.
DISCLAIMER: I am not SEBI registered it is only for educational purposes. Any risk involved in it is your responsibility.
Jsw Steel at All Time HighJsw Steel is on its all time high and at there is a very strong resistance and it can give breakout in next 1-3 days if it breaks it's resistance then it can be a good buying trade the SL be low of breakout candle. And the traget can be 1000 RS because every round price area is a psychological resistance so 1000 rs is a good Target.
Disclaimer: We are not SEBI registered.It is only for educational purposes.Any risk involved in it is your responsibility.