JSWSTEEL trade ideas
JSW Steel is a buy CMP 308 SL 284 Target 360 JSW Steel is a buy CMP 308 SL 284 Target 360 minor resistance at 320 if 320 is broken we may see 360++ levels in short term garnering 18% gains in 1 month
JSW Steel Make or Break situationJSW STEEL one of volatile scripts and suitable intraday instrument was tried to break its resistance but can't succeeded due to strong selling on the metal counter.
By Breaking the Gap down of 1st January this year JSW will become Bullish and Go for run Target 325. Failed to do in the coming may take it to 25th March low of 276. By Breaching 25th March Support of 276 Can go further 11th Feb low of 256.
Technical used: Gann Fan
JSW SELL TRADE SETUPLooking for a failed attempt to breakout from big falling wedge.
keep a note of this script and chart as in long run whenever it breaksout on positive side of wedge it will deliver good gains.
But for now try to sell it on rejection.
All the best!
buy on supportAt a gud support ,if crosses marked levels then could be a gud buy for intraday as well as positional..To be on safer side i'll take it as positional if it crosses 325 within 2-3 days else for tomorrow i'll look for intraday day.
Good short term longFormed a hammer on high volume, could be good for 5-10% if 300 holds.
Risk Sensibly!!
JSWSteel1. Pull back at Fibo 61.8%
2. Strong Volume on the last candle
3. 52 Week High
4. Broke previous resistance with a big green candle
Short-term immideate target 379
JSW STEEL - BULLISH C&H PATTERNCmp 355
Stop 337
Target Open
Logic:
Cup and Handle breakout (better visibility in daily chart) supported by volumes and accompanied with a strong underlying trend evident from MAs in both weekly and daily.
JSWSteel, 200 DMAThis is nice example in understanding the importance of 50 and 100 DMAs as accessories of 200 DMA. Firstly, a) Price moves above 200 DMA is the first thing to take note of, b) 50 DMA gives a cross to 200 DMA on the upside which boosts the bullish sentiment, c) 100 DMA gives upside cross to 200 DMA which further accelerates the upside move.
Secondly, Journey upwards will have corrections due to profit booking done by traders (investors may like to sit tight). Corrections may often bring the price towards 50 and 100 DMAs.
The same is to be read in reverse in case of downtrend.
JSWSTEEL is Almost into Bearish TerritoriesJSW Steel LTD (NSE: JSWSTEEL) is about to trigger Bearish Move as per TTC Breakout Formation . The Critical Make-Or-Break Zone is at around 254 . If it breaks decisively below this zone (on 1-hour closing basis), we may see sellers gaining control over the buyers.
For Short-term targets, Trader should eye on 247 Zone . Then 240 and 232 are the next support. For Swing Traders, 221 Zone is Very Critical. Below which we can see a good amount of selling.
JSW Steel Ltd, the flagship company of over $11 billion JSW Group, JSW Steel is one of India's leading integrated steel manufacturers with a capacity of 18 MTPA.
JSWSTEEL is Almost into Bearish TerritoriesJSW Steel LTD (NSE: JSWSTEEL) is about to trigger Bearish Move as per TTC Breakout Formation . The Critical Make-Or-Break Zone is at around 254 . If it breaks decisively below this zone (on 1-hour closing basis), we may see sellers gaining control over the buyers.
For Short-term targets, Trader should eye on 247 Zone . Then 240 and 232 are the next support. For Swing Traders, 221 Zone is Very Critical. Below which we can see a good amount of selling.
JSW Steel Ltd, the flagship company of over $11 billion JSW Group, JSW Steel is one of India's leading integrated steel manufacturers with a capacity of 18 MTPA.
JSWSTEEL #JSWSTEEL BUY setup - Hunt with tRexBuy JSWSTEEL above 250
We can observe that JSWSTEEL after forming a double bottom has given a strong bounce breaking the peak between the double bottom with Bollinger bands expansion.
If the momentum is strong enough to sustain the rally, then we can expect it to go towards 263 upon breaking 250 level.
T1: 255
T2: 260
T3: 263
SL: 244
