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JINDAL STAINLESS LTDJINDAL STAINLESS LTDJINDAL STAINLESS LTD

JINDAL STAINLESS LTD

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JSL trade ideas

JSL-promoters are showing lot of confidence !This chart represents the weekly price action of Jindal Stainless Ltd. (NSE) with an Elliott Wave analysis and Fibonacci retracement levels. Here's a summary of the key observations: Technical Analysis Summary: Elliott Wave Structure: The stock appears to be in a corrective Wave 4 after completing an impulsive Wave 3. A potential Wave 5 uptrend is anticipated, as per the Elliott Wave structure. Fibonacci Retracement Levels: The price has retraced close to the 0.5 Fibonacci level (465.85), which is a strong support zone. The 0.382 level (553.40) is also a critical resistance, which the price is testing. RSI Analysis (Relative Strength Index): RSI is at 40.26, indicating that the stock is approaching the oversold region. The RSI moving average (44.12) is slightly above the RSI value, suggesting weak momentum. Support & Resistance: Support levels: ~465.85 and ~549.90. Resistance levels: Previous high near 848.00. Possible Future Movement: If Wave 4 completes, a bullish reversal for Wave 5 could take the stock higher. A further breakdown below 465.85 might invalidate the bullish scenario. Conclusion: The stock is in a correction phase, but signs of reversal are emerging. Watch for price action near the 549.90 support zone and RSI movement above 50 for confirmation of bullish momentum. If bullish Wave 5 starts, the stock may target new highs.
NSE:JSL
by Pushpmegh
1
JSL- On My shopping list!!Analysis of the Chart (Jindal Stainless Ltd - NSE, Weekly Timeframe) 1. Elliott Wave Structure Wave (1) and (2) are complete. Wave (3) reached its peak and Wave (4) is forming, finding support near 549.90 INR (highlighted blue line). Wave (5) projection: The chart suggests a possible bullish move from Wave (4) to Wave (5), targeting new highs. 2. Fibonacci Retracement Levels 0.382 (553.40 INR) and 0.5 (465.85 INR) are key Fibonacci levels. Current support: The stock is bouncing from the 0.382 Fibonacci retracement level, indicating a potential reversal zone. If this level fails, the next major support is near 465 INR (0.5 level). 3. Price Action & Trendline Support The stock has been following an ascending channel, touching both the upper and lower trendlines. Currently, the price is near the lower boundary of the channel, which historically has acted as a strong support. A breakout above the mid-line of the channel could trigger Wave (5) rally. 4. RSI (Relative Strength Index) The RSI is 39.48, indicating mildly oversold conditions. The RSI-based moving average is 44.59, showing weakness but also potential for reversal. If RSI crosses above 50, it could signal bullish momentum. 5. Key Levels to Watch Immediate Support: 549.90 INR (current bounce level) Major Support: 465.85 INR (0.5 Fibonacci level) Resistance Levels: 605-610 INR (recent highs) 848 INR (previous peak & target for Wave 5) Conclusion ✅ Bullish Scenario: If the price holds 549 INR support and RSI improves, a potential Wave 5 rally could push the stock towards 700-850 INR in the coming months. ❌ Bearish Scenario: A breakdown below 465 INR could signal further downside towards 350-400 INR.
NSE:JSL
by Pushpmegh
JSL S/RSupport and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:JSL
by zenthosh
LONG: Jindal Stainless - Double Bottom Reversal- 21% UpsideLong Position: Double Bottom Pattern: Jindal Stainless has formed a classic double bottom around the 640-650 range, indicating a potential bullish reversal. The key level to watch is the neckline resistance around 890-900. A breakout above this level could lead to further upside. Entry: Current price level (around 733-735) Target: 890-900 (Neckline of the double bottom) Stop-Loss: 700-710 (Tight stop-loss below recent consolidation) Time Frame: ~1.5 months (Expected to reach the target within this period based on pattern development) MACD Bullish Crossover: The MACD has crossed into bullish territory, suggesting that momentum is on the upside. Bollinger Bands: The stock is currently near the middle of the Bollinger Bands, providing room for a move towards the upper band, aligning with the potential target. Risk/Reward Ratio: ~3:1 Potential Upside: ~21% (from current levels to the 890-900 target range) Strategy: Enter long at the current price level with a target of 890-900, where the neckline of the double bottom lies. Use a stop-loss at 700-710 to minimize downside risk. Key Levels to Watch: Support: 700-710 (Stop-loss level) Resistance: 890-900 (Neckline and target level) Disclaimer: *I am not SEBI registered and this idea could be wrong. I'm here to learn, so please share your thoughts in the comments. Don’t follow this blindly! :) *
NSE:JSL
by competitiveMin94045
JSL looks bullish on a daily time frameJSL looks bullish and has been in an uptrend for a while. It has just reversed RSI from 40 on a daily time frame. RSI above 60 on weekly and monthly time frames. The volume has increased significantly in the last trading session. The price has just crossed the trend line but retraced back. It would be a good buy if the price breaks 480 levels with fair volume & retest it. We can achieve 1:3 risk-to-reward ratio. It may give a break out if trending upward. It will become weak below 440 levels.
NSE:JSLLong
by vikasbhekare
Jsl ready for next momentum Breakout trading implementation: 1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading range. 2. **Volatility Indicator:** Breakouts often occur when there's increased volatility in the market. Monitoring breakouts can provide insights into shifts in market sentiment and potential price movements. 3. **Entry Points:** Breakout points serve as potential entry points for traders looking to ride the momentum of a newly established trend. Buying on a breakout can capture the early stages of a price movement. 4. **Confirmation of Strength:** Successful breakouts indicate the strength of a trend. If an asset breaks out with high volume and follows through with sustained price movement, it suggests a strong trend in that direction. 5. **Avoiding False Signals:** Breakout strategies often include using indicators or confirmation signals to avoid false breakouts. This can enhance the accuracy of trade decisions. 6. **Defined Risk and Reward:** Breakout trading allows for setting clear stop-loss levels below the breakout point, which helps manage risk. Traders can also calculate potential profits based on the distance between the breakout point and a projected target. 7. **Adaptable to Various Markets:** Breakout trading can be applied to various markets, including stocks, forex, commodities, and cryptocurrencies. The concept remains consistent across different assets. 8. **Flexibility:** Traders can adapt breakout strategies to their preferred timeframes, whether they are day traders, swing traders, or long-term investors. 9. **Liquidity Opportunities:** Breakout points are often associated with increased trading volume, which can provide better liquidity for executing trades. 10. **Risk vs. Reward Assessment:** Traders can evaluate the potential risk of a trade (stop-loss) against the potential reward (target price), aiding in decision-making and portfolio management. 11. **Psychological Advantage:** Successful breakout trades can boost a trader's confidence and discipline, reinforcing the effectiveness of their strategy. 12. **Market Events:** Breakouts can occur around significant market events such as earnings reports, economic data releases, or geopolitical developments, offering traders opportunities to capitalize on sudden price movements. Remember, while breakout trading offers potential advantages, it also carries risks. False breakouts and market reversals can lead to losses. Successful implementation requires a solid understanding of technical analysis, risk management, and the ability to adapt to changing market conditions.
NSE:JSLLong
by UnknownUnicorn24085472