Pattern : Bearish Gartley
Stock : NSE:JSWSTEEL
Time Frame : 1 Hour.
Always look for reversal patterns in rectangle box area which is a reversal zone and take trade basis on it.
Note : This chart is only for study and reference purpose.
Nifty Metal is Preparing for big blast after long down trend. Just wait for 2520 level breakout. This will be the confirmation to blast. Jswsteel has already breaked out and tatasteel and other Metal stocks preparing itself.
JSW steel on 1H chart still in good up trend.
After making Higher Low its trying move up again and if we are in a right trend then we definitely see the new Higher High in this counter.
I personally prefer to buy JSWSTEEL above 292 by maintaining SL at 278.
We saw a good sell off in the indian markets, the jsw steel chart seems very attractive for us. The price is still in an uptrend as per the 4h and daily timeframe. We have the goldenzone between 282.15 and 278.90. The price has tested the golden zone and closed above this level. We have immediate resistance at 285.40 and 289.40. A good and safe trade...
The stock has been continuously going up for some time in an aggressive manner and has reached the previous high (supply zone) ...
. Shooting star pattern has been formed though the upward wick is small
Expecting a healthy retracement till 240 level when crosses 270 mark while going down
Safe : sell PE above 290 at good cost ... AUG and SEP...
We saw good rally in metals(Tatasteel,jswsteel,jindalsteel,Sail), these many days.
Fresh Investors Ignore Metals as of now.
Now It's in overbought zone, Will it sustain or we can see a big dip in All Metals.
Also looks like completion of Elliott's 5 wave - .
Go through my profile...
JSW steel is trading in overbought zone. Can see a sharp pull back as today's move it looked like distribution of shares.
if it breaks 250 level convincingly then will see good fall.
Levels marked on the chart.
Disclaimer: Views published are educational any trade taken is at sole individual risk
Hello !! JSW steel is quite a good stock and giving a good buy signal. if it breaks the resistance which looks favorable and sustains over it then 228 can be seen and other targets can also be seen. #my_view #learner