Finally neckline breakdown
200 Dema is dynamic support breakdown
Chart setup clearly show ho for short trade
MACD Bearish
RSI also indicate Bearishness
Disclaimer This is my personal view for education purpose only
No Buy sell recommendations
JINDAL STEEL & PWR
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakdown of Descending Triangle Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 645-.
✅Can Go short in this stock by placing a stop loss above 690+.
These are idea's which you can add your watchlist and analysis for yourself.
Keep on radar.
Potential upside stock!
This content for only education purpose!
I am not SEBI Register
Chart top made head and shoulder pattern.wait for trade confirmation if break neckline price below 634 make a short entry for almost 10%.
S.L today day high 646.
Today break 20dema short term momentum is bearish.
Macd is bearish favour in short trade.
Disclaimer:- This is my personal view for education purpose only.
No Buy sell recommendations give by me.
JindalSteel broke out of 610 level of resistance today.
Also, this looks like breakout of Inverse Head And Shoulder Pattern which is a bullish pattern.
I expect price to rise further.
Entry can be initiated at current market price or at retest of the neckline at 610.
Targets-
1. 700
2. 715
Stop loss-
Aggressive traders/ Risk taker can put stop loss below...
NSE:JINDALSTEL is indicating sign of reversal. As per my analysis, 532-533 is best level to take buy entry with stop loss of 505 (-28 points risk). My expected upside positional targets would be 545 (+13), 558 (+26), 569 (+37) & 580 (+48).
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
This script is trying to negotiate its future around the gray zone. If gray zone is compromised, then it can have a bearish activity in the near future.
jindal steel and power on reversal mode. respecting levels. Doji formation indicates two to three sessions of positive run. For educational purpose only.
