Once can buy JSWSTEEL above 769.30 for a price Target of 845++ with a Stop Loss of below 719. Once prices move above 790 levels the stock could give a new breakout. We also have RSI at around 64 and the prices trading above all important EMA which could support the movement of the prices. Today the stock moved up 4.47% with a volume of 49,92,699.00. JSWSTEEL is trading at a P/E ratio of 8.5 compared to the sector P/E ratio of 13 makes it an attractive pick.
The views presented are of the author and do not represent a trade. Kindly consult your financial advisor before investing.