JINDALSTEL trade ideas
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.
JINDAL STEEL : Double Top Formation...Metal Sector Showing Strength in coming week. Jindal Steel on Daily TF We can see on last week made Double Pattern Formation and can make complete Triple Top Pattern formation in coming week due to Support of High Volume Momentum going strong on Daily, Weekly and Monthly Basis. Volatility increase well. So all positive factors are helps to stock for going upside.
Entry : CMP
SL : 578
Upside Move : 608,610
JINDAL STEEL : Metal Sector OutperformMetal Sector Performing well Stocks like Tata Steel, Sail, Vedl etc....Among them Jindal Steel Performing well.
On Daily TF we can see that stock took support on 578 from January and today market was highly volatile due to Budget But Stock perform well and closing with High Volume. Strong Momentum on Daily, Weekly and Monthly Basis. stock upside move can see at 630 to 650 at sl of 578.