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JSW STEEL LTD
Long

JSW STEEL BREAKS OUT OF ASCENDING TRIANGLE WITH HUGE PROFITS

By peace_lover
Updated
TECHNICAL ANALYSIS :

  1. ASCENDING TRIANGLE BREAKOUT -

    Price has broken out of the pattern 2-3 weeks back on weekly chart

  2. 50D & 100D SMA REVERSAL -

    Price has also taken support on 50D & 100D SMA simultaneously a few months back and have reversed from those levels since then

  3. VOLUME SPIKE -

    Price has shown volume spike on the previous week (10th july)

  4. BREAKOUT FROM STRONG SUPPORT-RESISTANCE ZONE -

    Price has broken out of the strong level which had earlier acted as a strong support zone



FUNDAMENTAL ANALYSIS :

  1. OUTSTANDING EPS COMPARED TO PEERS -

    Its mar'23 eps was ~12 compared to meagre 1.40 eps of its competitor

  2. OUTSTANDING EBIT MARGIN COMPARED TO PEERS -

    Its mar"23 ebit margin was ~12 compared to meagre ~7 of its competitor

  3. OUTSTANDING NET PROFIT MARGIN COMPARED TO PEERS -

    Its mar"23 net profit margin was ~7 compared to meagre ~2 of its competitor

  4. TRIPLE PROFITS ON CURRENT QUARTER -

    On top of everything they have also posted almost triple profits in jun quarter'23 giving more convictions to the prediction



TAKE PROFIT & STOP LOSS -

TP - 1028
SL - 740
Trade closed: stop reached
SL has been hit long time back
Ascending TrianglebreakoutEarningsMoving Averagessupport_and_resistanceTriangle
peace_lover
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