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...
price is trading in bullish channel form long time.
taking the support multiple times from trendline
This stock is now in consolidation
we detected a drop from the upper resistance channel,
after a long time consolidation price is moving upside to test this resistance,
if price comes to bottom side,trendline is ready to push the price up,if failed to push the...
As per my analysis, NSE:JSWSTEEL has been tested 820.55 two times which is breakout levels for 843.00. If price crossed 821, there would be high probability for target of 843.00.
Note: This is my personal analysis, only to learn stock market behavior. Kindly do your own analysis before take any trade. Thanks.
this stock is trading in a channel...
keep in long side until price is in the channel....
if channel breaks and retest then look for short side....we have resistance in the zone 840-850 liquidity on topside may done above this levels and fallback.
Drop base drop chance...so keep an eye on this.
We see that Price has completed its Waves 1 and 2 and currently we have Wave 3 onn, we can consider this to be one of the strongest moves this stock is experiencing right at the moment.
We see the Fibonacci Extension levels, now we have the next level 261.80% of Wave 1 which is Rs. 1209.90, this is the level to which Price will come.
Currently Price...
this stock is trending downwards..
now the price is at Resistance Zone...
if it failed to break the channel it will continue its fall, and again trading in a channel
keep safe before long from here.
On bottom side we have a demand zone lies at 700 and 650 levels...look here for buy.
look for buy if price comes back to the support and look for short if price comes...
A strong support is observed at 740 levels...
price is now at previous strong bullish area....and also this place is a strong bearish place.
This might push again price to little upside...and then have a chance of fallback....
After successfully closing the bearish gap , the price has established a bullish channel, and it is currently trading within this channel. If you are considering a short position, it's advisable to exercise caution and wait for a clear break and retest of the channel's boundaries. Additionally, t here is a notable demand zone located around the 780...
the stock is trending upwards....
Pvevious Resistance is broken (ATH).....
in daily time frame price is ready to test the previous resistance...
if this resistance is turned to be a support then this stock is again bullish...
If we go to the smaller time frames...price is in consolidation after a ATH is broken...
consolidation + Downside ==Upwards may be...
Observations::
--->> now the price is at resistance zone...
where previously a strong fall is observed from this levels.
Monthly Analysis::
weekly Analysis::
Daily Analysis::
If we see on bottom price consolidation + breakout is given...
No sign of bearishness is observed till...
Observations::
clearly the stock is trending downwards,
previous support @710-718 level, broken strongly.the same support @710-718 range is acting as resistance.
now price is trading in a range, wait for the break of either side movement.
Keep track this levels. sharp movements will happen while breaking the resistance or support, when price is in range.
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...
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...
The stock now took resistance at the levels, which it was trying to hold since 14 May 2021.
Now sustaining below 685 levels, the stock might be moving towards 615 -606 levels.
Price taking support 188 rs now , from now price can move above
We need monday daily candle close above 195 if we achieve that close than it can move higher
