jswsteel view for 20th Feb
Inverse flag pattern in Jswsteel
Please follow strict risk reward and stop loss..
Charts for Educational purposes only.
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V Trade Point
NSE:JSWSTEEL
WAIT FOR PROPER BO OR RETEST
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
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...
The idea here is about JSW Steel Ltd:
JSW Steel Ltd. is a holding company, which engages in the production, distribution, and trade of iron and steel products. It offers hot rolled and cold rolled coils and sheets; galvanized coils and corrugated sheets; galvalume products; steel doors; and light steel building solutions.
My view is short term Bullish for the...
JSW steel is forming cup and handle form. Currently it is in the process of forming the cup (when the price reaches 731). It may form handle in case if it does not break out 731. If it forms handle, it may come to 710.
With the latest news on steel sector (removal of export duty tax), JSW steel may outperform among the lot. It may spend some time around 740 to 760 levels before it surpasses it's all time high in medium term.
My bullish view on NSE:JSWSTEEL .
Best level to take entry is 635. Can hold for level of 655 & 686. Best Risk & Reward levels.
Stop loss will ne on 615 (20 Points)
Note: This is my personal analysis, only for learning.
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...
NSE:JSWSTEEL
An Introduction to Price Action Trading Strategies helps for long-term investing as well. Here in this example of JSW steel,where would be better off selling in price action strength when stock price jump usually at a higher level
The first thing I do is look at the chart and see if it has any apparent patterns. If not, then I will look at the...
