triangle forming stock fromed wadge and broke out. on pullback volumes were poor . now today volumes came in but candle showes bear dominance so wait for solid pull back confirmation . so keep eye on it.
if stock goes below trendline it avoide it.
JINDALSTEL trade ideas
JINDAL SteelJINDAL Steel - Buy
@ CMP
1st target - 429.15
2nd target - 437.30
Happy Trading like and Follow :)
My view on JINDALSTELJindalstel giving trendline breakout.If sustain above 408 and close above it.It should hit 417-425-435++ very short term.We are keeping on radar Jindalstel 420 CE.
Intraday JINDALSTE Buy Jindal steel & PowerIntraday JINDALSTE Buy Jindal steel & Power @ 379 stoploss 376.5 Target 383 - 385 - 390+++++
Jindal Steel Chart Idea for IntradayJindal Steel Chart Idea for Intraday
How to take Trade in Jindal Steel for intraday
Please Comment Below
Jindal Steel and PowerNear Support of long trendline. Also near BO of triangle pattern. Keep an eye for further upside move.
How to identify a successful Breakout?Underlying logic:
1. The price gets rejected from a level repeatedly and forms a major resistance.
2. There is an initial test of supply which absorbs some pending orders
3. The price finds a bottom and some sort of accumulation happens.
4. After the accumulation, the price tries to move back up to retest the resistance level.
5. A bull trap is confirmed when the price pierces through the resistance level but there is no follow-up move.
6. But after every test of the supply, it becomes weaker and weaker due to absorption of pending orders(already discussed in older posts)
7. The price finds a bottom again and then another phase of accumulation starts
8. Finally, the price moves up and tries to breakout above the resistance. This time the price manages to break out since the residual supply gets absorbed and it gives a retest.
9. If the breakout is successful, it will be followed by a bullish move and the volume will expand.
10. The retailers buy after the breakout while the institutions buy during the accumulation phase.
Exhibit 1: Clear breakout and clear retest
Exhibit 2: Clear breakout with NO retest of a horizontal level
Exhibit 3: Breakout with consolidation at the resistance level
Sometimes, the price may start consolidating at the resistance level. This is a positive sign because the price is absorbing all the residual supply and is trying to find the equilibrium.
There can be many more different variations, but the underlying concepts remain the same. You can read and revise this post until you master the concepts. I hope you find this post useful.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
@johntradingwick
JINDALSTEL is getting ready to fly !??JINDALSTEL: seems like it is in the process of finishing the full cycle Elliott wave and getting read for new one. Is it ready to go up?
Buy Jindal steel - Trend support & short SL Taking support at a important trendline. Also, it has small SL So, a good risk to reward ratio.
APPROX 1:3
Jindal Steel Bullish continuation 🤑🐂✅What to see for the week ahead on Jindal Steel:-
1• Jindal Steel Showing a Bullish continuation setup for the weak ahead look for a break of the trend line and a continuation for an entry in the trade.
2• Wait for the correction to confirm the trade‼️
3• Target 🎯 1. 457.10
🎯 2. 501.05.
💸If you like my idea Do like and comment 💸
JINDALSTEEL edge of support levelJindal steel is in a very interesting pattern currently it is edge of support level.
If 374 level breaks then we can consider this as a down-tread break out.
If 392 level breaks then we can consider as a up-tread.
Since metal stocks are underperforming over a week so please wait for right position.
Swing trade on Jindal Steel and Power .The equal lows has been taken out and its forming a Volatility Contraction Pattern (VCP) over the demand zone, which gives us an entry and proves that it is ready to move. It should move further high and a good ROI is expected .
A potential Long setup for Jindal Steel• You can see a potential short term buy entry on Jindal Steel For the week ahead
• It has 1/4 risk reward ratio
• Entry for trade is at :- 393.40
• Profit target is at :- 421.55
• Stop loss is at. :- 384.25
* For More Indian stock related ideas follow my Account and do tell in the comments your point of view about Jindal Steel.*
Jindal Steel { 15 M Short }Broke the support & Formed
Short if break !
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use smaller tf SL & trade in 15M or 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR indicator as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change ( PSAR : Parabolic Stop n reverse )
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
Jindal steel looks good for accumulationIts doing correction on its 3 hourly time frame
One can accumulate for long terms/short term
Immediate targets of 500
Safe traders can enter once and hourly candle closes above 416
Jindal Steel - Gaining momentumJindal Steel - Looking good for 1:2 RR 500 Target and 380 SL. Beyond 500 it has a potential for 650+.
DISC: Not a SEBI Registered. I post charts for my own study.
