JSW STEEL - Butterfly Patten

Jsw Steel looks good on all time frames, the weekly and daily charts are in sync helping prices to move swiftly.

There is a probability of the Butterfly pattern , which is a five-legged harmonic pattern , which if unfolds can take the stock to 725 to 755 levels in the coming weeks.

I would wait for a Dip to enter the stock, however, there are chances that we might not get a dip, as price action looks quite strong.

So I will take FOMO trade right now, despite strong price action, because it is better to wait for a halt than jump on the fast-running train.

Hence if the dip comes, there is a trade on the table. otherwise, move on to the next bet.

Support at 670-680


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