manuagarwal21

JSW STEEL - Butterfly Patten

Long
NSE:JSWSTEEL   JSW STEEL LTD
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

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.